Asked by sydney michelle on May 16, 2024
Verified
A sole proprietorship dissolves upon the death of the owner.
Sole Proprietorship
A business structure where a single individual owns and operates the business, making them solely responsible for its debts and liabilities.
Dissolves
The act of officially ending the existence of an entity such as a corporation, partnership, or marriage.
- Comprehend the significance of sole proprietorships in the business landscape and their comparison with other business forms.
Verified Answer
JA
Jenyce AmaralMay 18, 2024
Final Answer :
True
Explanation :
In a sole proprietorship, the business and the owner are legally considered the same entity, so when the owner dies, the business effectively dissolves.
Learning Objectives
- Comprehend the significance of sole proprietorships in the business landscape and their comparison with other business forms.
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