Asked by Summer Marié on Apr 26, 2024
Verified
Which of the following is true of working for a sole proprietorship?
A) The work is highly specialized.
B) The work typically encompasses a wide variety of tasks.
C) You will have limited personal liability.
D) The working hours tend to be more regular-9 A.M. to 5 P.M.
Specialized
Relating to a particular area of expertise or designed for a specific purpose or use.
Variety of Tasks
A range of different activities or duties that a person or machine may be required to undertake.
Personal Liability
An individual’s personal responsibility for debts or obligations. The owners of sole proprietorships and partnerships are personally liable for the debts and obligations incurred by their businesses. If their firms go bankrupt or cannot meet debts, the owners will be personally responsible for the debts.
- Identify the legal and functional consequences of operating a sole proprietorship.
- Know the challenges and benefits of working in different types of legal business forms from the perspective of paralegals and attorneys.
Verified Answer
Learning Objectives
- Identify the legal and functional consequences of operating a sole proprietorship.
- Know the challenges and benefits of working in different types of legal business forms from the perspective of paralegals and attorneys.
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