What is the legal relationship of a sole proprietorship to its owner? A. The owner and the sole proprietorship are considered to be the same legal entity. B. A sole proprietorship can survive the death of its owner. C. The owner can shelter profits of a sole proprietorship from taxation. D. Then owner is not liable for debts incurred by the sole proprietorship.
What is the legal relationship of a sole proprietorship to its owner? A. The owner and the sole proprietorship are considered to be the same legal entity. B. A sole proprietorship can survive the death of its owner. C. The owner can shelter profits of a sole proprietorship from taxation. D. Then owner is not liable for debts incurred by the sole proprietorship.
Chapter2: Introduction To Financial Statements
Section: Chapter Questions
Problem 7MC: Owners have no personal liability under which legal business structure? A. a corporation B. a...
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What is the legal relationship of a sole proprietorship to its owner? A. The owner and the sole
proprietorship are considered to be the same legal entity. B. A sole proprietorship can survive the
death of its owner. C. The owner can shelter profits of a sole proprietorship from taxation . D.
Then owner is not liable for debts incurred by the sole proprietorship.
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