Tina owns United Enterprises, a sole proprietorship. In a sole proprietorship, the liability of the owner is
a. limited to the extent of his or her original investment.
b. limited to the extent of his or her original investment plus any subsequent capital expenditures.
c. limited by state statute and varies from state to state.
d. unlimited.
a. limited to the extent of his or her original investment.
b. limited to the extent of his or her original investment plus any subsequent capital expenditures.
c. limited by state statute and varies from state to state.
d. unlimited.
d. unlimited.
Begründung:
The sole proprietor has unlimited liability, or legal responsibility, for all obligations that arise in doing business.
Begründung:
The sole proprietor has unlimited liability, or legal responsibility, for all obligations that arise in doing business.
Tags: Disadvantages ot the sole proprietorship
Source: p. 55
Source: p. 55
Flashcard set info:
Author: Elisa
Main topic: Law
Topic: International Law
School / Univ.: Hanze Hogeschool
City: Groningen
Published: 14.02.2010
Tags: Exam Year 1
Card tags:
All cards (125)
? (1)
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Business Trust (2)
Conversion (1)
Defamation (1)
Disadvantages ot the sole proprietorship (1)
Dissolution LP (1)
Distributorship (2)
Domestic (1)
First sentence (2)
Franchise (1)
Joint venture (2)
last sentence (1)
LLC (1)
Negligence (1)
Partnerships (1)
point 2 (1)
Preferred Stock (1)
Preferred stocks (1)
Self-defense (1)
Slander of Title (1)
Stocks (3)
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