Asked by caglar gokbulut on Jun 11, 2024
Verified
Unlimited liability is an advantage of a sole proprietorship.
Sole Proprietorship
A business structure where a single individual owns and runs the business, bearing all the profits and responsibilities for liabilities and debts.
- Comprehend the distinctions among different types of business entities and their consequences for accounting practices.
Verified Answer
NT
Nyhla TolbertJun 16, 2024
Final Answer :
False
Explanation :
Unlimited liability is a disadvantage of a sole proprietorship, as it means the owner is personally responsible for all the liabilities and debts of the business.
Learning Objectives
- Comprehend the distinctions among different types of business entities and their consequences for accounting practices.
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