Which one of the following statements concerning a sole proprietorship is correct?

Corporate Finance

Which one of the following statements concerning a sole proprietorship is correct?

A sole proprietorship is designed to protect the personal assets of the owner.
The profits of a sole proprietorship are subject to double taxation.
The owner of a sole proprietorship is personally responsible for all of the company's debts.
There are very few sole proprietorships remaining in the U.S. today.

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Which one of the following statements concerning a sole proprietorship is correct?Answer:The owner of a sole proprietorship is personally responsible for all of the company's debts.

Tags: Introduction to Corporate Finance

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