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3 years ago

Max chose to operate his production studio as a sole proprietorship even though his attorney cautioned that he was:____________

Business

1 answer:

sergij07 [2.7K]3 years ago

8 0

Answer:

<u>c. exposing himself to unlimited personal liability.</u>

Explanation:

One major characteristic of sole proprietorship being the individual is sole recipient of profits and sole bearer of all risks and liabilities.

A sole proprietor bears unlimited liability in the sense that, in case of bankruptcy, the proprietor's personal assets can be taken away to repay debts owed by him.

Though a proprietor also remains the sole recipient of all gains, similarly the proprietor is also exposed to unlimited risk.

Thus, the correct option is, c. exposing himself to unlimited personal liability .

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3 years ago

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3 years ago

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Alexxandr [17]

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Explanation:

a) Data and Calculations:

Selected Balance Sheet Data

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3 years ago