Question

which of the following is true of a sole proprietorship? a business operated under sole proprietorship cannot be transferred. b) large businesses cannot be operated under sole proprietorship. c) a business operated under sole proprietorship must be owned by one or more people of the same family. d) creditors can recover claims against the business from the sole proprietor's personal assets.

Answer 1

The statement that is true of a sole proprietorship is that a) a business operated under a sole proprietorship cannot be transferred.

A proprietorship can legally have the handiest one, proprietor. This is due to the fact the commercial enterprise serves as a part of the enterprise proprietor's private identification and vice versa. If a proprietor wants to expand their business and take delivery of new companions and traders, they would restructure the employer and contain it.

Any individual who wants to start a commercial enterprise with less investment can choose this sort of commercial enterprise form. It is able to be started in a time span of 10-15 days. Additionally, the control within the business is solely for your arms.

The proprietorship has been described because the only enterprise form underneath which you'll be able to perform a commercial enterprise. It isn't a legal entity and definitely refers to a person who owns the commercial enterprise, individually responsible for its debt.

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