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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

How does a sole proprietorship differ from partnership?

Summary Introduction

To determine: The way a sole proprietorship differ from partnership.

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. A single individual claims, oversees and directs all the business actions and the person who runs the business is called as a sole proprietor.

Explanation

The way a sole proprietorship differ from partnership are as follows:

In a partnership, at least two people function as co-proprietors of the business for profits. A sole proprietorship has just a single proprietor...

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