Ask Question
Social StudiesSocial Studies
15 January, 22:28

What type of business organization is owned by a single person, has limited life and unlimited liability? Corporation Partnership Sole proprietorship Limited liability company

+3
Answers (2)
  1. 15 January, 23:57
    0
    The answer is sole proprietorship

    Explanation:

    Sole proprietorship is a form of business enterprise that is owned, managed and controlled by one person. The owner of such business is not legally different from the business entity.

    Such form of business has limited life because the death of the sole proprietor can put an end to the business. Also, sole proprietorship has unlimited liability because the owner is responsible for the debts which the business amass.
  2. 16 January, 01:09
    0
    Sole proprietorship is the business organization that is owned by a single person. It also has unlimited liability because the creditors will go after the individual's personal assets if that individual fails to pay in time.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “What type of business organization is owned by a single person, has limited life and unlimited liability? Corporation Partnership Sole ...” in 📘 Social Studies if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
A plaintiff brought an action against a defendant for injuries received in an automobile accident, alleging the defendant's negligent behavior in speeding and driving inattentively.
Answers (1)
Fourteen-year-old aisha spends at least two hours per night talking to her best friend, kylie, on the phone. they often go over the details of the day, what everyone at school said, wore, and so on.
Answers (1)
Which of the following Cabinet departments was established before the others listed? A) Department of Agriculture B) department of education C) department of the treasury D) department of the interior
Answers (1)
In what city did George Washington first work as president?
Answers (2)
What was Governor Faubus's public stance on integration of Central High School?
Answers (2)
New Questions in Social Studies
Which right was guaranteed by the english bill of rights?
Answers (1)
Workplaces that encourage practices such as mindfulness is called
Answers (1)
Name one thing each of the societies has in common?
Answers (1)
As a result of the War of 1812, A. politicians spent less time on questions of national economic development. B. American banking was stabilized. C. America's internal transportation system proved its worthiness. D.
Answers (1)
If stricter immigration laws are imposed and many foreign workers in the United States are forced to go back to their home countries, Group of answer choices a) we will move down along the long-run aggregate supply curve.
Answers (1)
Home » Social Studies » What type of business organization is owned by a single person, has limited life and unlimited liability? Corporation Partnership Sole proprietorship Limited liability company
Sign Up Forgot Password?