Asked by Carlos Paredes Monreal on Apr 30, 2024
Verified
A sole proprietor is considered a separate legal entity for purposes of incorporation.
Sole Proprietor
The single person at the head of a sole proprietorship.
- Absorb the elementary concepts and divergences amongst sole proprietorships, partnerships, limited liability companies, corporations, and cooperatives.
Verified Answer
EC
Esmeralda ColonMay 02, 2024
Final Answer :
False
Explanation :
A sole proprietorship is not considered a separate legal entity from its owner. The owner is personally responsible for all debts and actions of the business.
Learning Objectives
- Absorb the elementary concepts and divergences amongst sole proprietorships, partnerships, limited liability companies, corporations, and cooperatives.