Question

one danger of starting a proprietorship is that you may be exposed to personal liability if the business goes bankrupt. this problem would be avoided if you formed a corporation to operate the business. true false

Answer 1

One danger of starting a proprietorship is that you may be exposed to personal liability if the business goes bankrupt. this problem would be avoided if you formed a corporation to operate the business. this statement is true.

A company means an entity or organization engaged in professional activity. They may be commercial, industrial or otherwise. For-profit companies trade to make a profit, while non-profit businesses trade for charity. Business is the backbone of the economy. We offer products and services that individuals and other businesses can purchase.

Companies range in size from small to large and operate in a variety of industries. We provide excellent service. Many successful businesses have forgotten the importance of providing excellent customer service. The better you serve your customers, the more likely they are to come to you the next time they need something, instead of going to your competitors.

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