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Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946

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BuyFindarrow_forward

Foundations of Business - Standalo...

4th Edition
William M. Pride + 2 others
ISBN: 9781285193946
Textbook Problem

What is a sole proprietorship?

Summary Introduction

To determine: The meaning of sole proprietorship.

Introduction: A sole proprietorship is a business that is owned and managed by one individual and the least complex type of business to begin the business, organize, and close the business.

Explanation

The meaning of sole proprietorship is as follows:

Sole proprietorship: A sole proprietorship is a type of business association, wherein a single individual claims, oversees and directs all the business actions and the person who runs the business is called as a sole proprietor.

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