Question

Write your question here (Keep it simple and clear to get the best answer) Define sole proprietorship

Answer 1

Answer:

The sole proprietorship is the simplest business form under which one can operate a business.

Explanation:

The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts

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Answer 2

Answer:

A sole proprietorship, also known as the sole trader or simply a proprietorship, is a type of business entity that is owned and run by one natural person and in which there is no legal distinction between the owner and the business. The owner is in direct control of all elements and is legally accountable for the finances of such business and this may include debts, loans, loss etc.

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