Asked by
bhargav vaghasia
on Nov 09, 2024
Verified
The major disadvantage of a sole proprietorship is limited liability.
Limited Liability
A legal structure that limits the personal financial risk of the business owners, protecting their personal assets from the debts and liabilities of the business.
Sole Proprietorship
A business owned and operated by a single individual, with no distinction between the business and the owner.
- Differentiate between the benefits and drawbacks of assorted organizational entities.
- Comprehend the principle of limited liability and its application within various business entities.
Verified Answer
AF
Learning Objectives
- Differentiate between the benefits and drawbacks of assorted organizational entities.
- Comprehend the principle of limited liability and its application within various business entities.
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