Difference between revisions of "Sole proprietorship"

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==Related coursework==
 
==Related coursework==
*[[Bookkeeping Quarter]].  
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*[[Regulatory Compliance Quarter]].  
  
 
[[Category: Septem Artes Administrativi]][[Category: Articles]]
 
[[Category: Septem Artes Administrativi]][[Category: Articles]]

Revision as of 14:57, 3 January 2019

Sole proprietorship is a type of business organization that has one owner who assumes unlimited liability. That means that this owner is personally liable for paying the business' debt.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Sole proprietorship. A type of business organization that has one owner. This owner is personally liable for paying the business' debt.

Related concepts

Related coursework