Asked by Bryce Bloomquist on May 22, 2024
Verified
A sole proprietorship ends with the death of the owner.
Sole Proprietorship
A sole proprietorship where the business and the owner are legally considered the same entity, operated by only one person.
Death
The end of life in biological organisms; not applicable in a financial or economic context unless metaphorically used.
- Understand the distinct aspects, favorable points, and disadvantages of several business types (sole proprietorship, partnership, corporation).
Verified Answer
CS
Chandler StricklandMay 28, 2024
Final Answer :
True
Explanation :
Upon the death of the owner, a sole proprietorship does not continue as it is legally and financially tied to the individual owner.
Learning Objectives
- Understand the distinct aspects, favorable points, and disadvantages of several business types (sole proprietorship, partnership, corporation).