triste12ac triste12ac

06-07-2024
Business

Answered

Identify the true statement about sole proprietorships.

A. It is a two-person entity.
B. The sole proprietor does not have to pay taxes.
C. The sole proprietor benefits from profits.
D. The sole proprietor cannot hire employees.

Answer :

GinnyAnswer GinnyAnswer

06-07-2024

Final answer:

Sole proprietorships are businesses owned and operated by one person. The sole proprietor benefits from profits and faces unlimited liability.

Explanation:

Sole proprietorships are businesses owned and operated by one person. The sole proprietor benefits from profits as they keep all the earnings generated by the business. However, a disadvantage is the unlimited liability the proprietor faces, making them personally responsible for all business debts.

Learn more about Sole proprietorships here:

https://brainly.com/question/39402332

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