Asked by Melisa Di?isa?lam on May 16, 2024
Verified
Proprietorships are owned by one owner and provide only services to their customers.
Proprietorships
Business entities owned by a single individual, who has full control over operations and takes on the liabilities of the business personally.
Services
Activities that provide value to customers without producing tangible goods, often characterized by expertise, advice, or labor.
- Comprehend the various organizational frameworks of enterprises like corporations and proprietorships and their influence on accounting practices.
Verified Answer
RT
Reyna TinajeroMay 16, 2024
Final Answer :
False
Explanation :
Proprietorships can provide both services and goods to customers, and while they are owned by one individual, they can still have employees.
Learning Objectives
- Comprehend the various organizational frameworks of enterprises like corporations and proprietorships and their influence on accounting practices.
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