Social Studies High School

Since sole proprietorships have __________, personal assets may be used to pay business debts.
A.
limited resources
B.
unlimited liability
C.
earnings potential
D.
several investors


Please select the best answer from the choices provided

A
B
C
D

Answers

Answer 1

Answer:

Unlimited liability (B)

Explanation:

In a sole proprietorship, the business is not treated as a separate entity from the owner, thus when the owner incurs debts and is unable to clear, personal assets may be used.

Answer 2

Since sole proprietorships have unlimited liability, personal assets may be used to pay business debts.

What is a sole proprietorship?

A sole proprietorship is a type of business organization where the ownership, functioning and management of the business are in the hands of a single owner.

In case of a sole proprietorship, the owner is solely responsible for keeping the profits and also bearing the losses even in personal capacity due to the unlimited liability.

Hence, option B holds true regarding sole proprietorship.

Learn more about sole proprietorship here:

https://brainly.com/question/14555007

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Related Questions

Who is often referred to as the “Father of Heredity?"
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Answers

Answer: Gregor Mendel is often called the "Father of Genetics." Mendel was a monk who lived in the 1800's in Austria. He was the first person to trace the characteristics of successive generations of a living thing. ... Mendel's work became the basis for the field of genetics, the study of heredity.

Explanation:

Gregor Mendel, as he used pea plants to discover the laws of inheritance
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