Asked by
Manuel Serrano
on Nov 28, 2024
Verified
The law considers all new businesses to be sole proprietorships.
Sole Proprietorships
A business structure where a single individual owns and operates the business, bearing full responsibility for its debts and liabilities.
New Businesses
Entities that have been recently established to pursue commercial, social, or other forms of organizational goals.
- Apprehend the distinctive aspects and legal obligations of running a business as a sole proprietorship.
- Understand the factors influencing the choice of business organization form by entrepreneurs.
Verified Answer
JB
Learning Objectives
- Apprehend the distinctive aspects and legal obligations of running a business as a sole proprietorship.
- Understand the factors influencing the choice of business organization form by entrepreneurs.
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