To many businesspeople, one of the major attractions of a sole proprietorship is
A. the ability to obtain additional financial resources.
B. the protection of limited liability.
C. an unlimited lifespan.
D. the chance to be their own boss.
The ________ is the most common form of business ownership.
A. partnership
B. corporation
C. joint venture
D. sole proprietorship
Unlimited liability means
A. when you own your own business you are responsible for all the business debts.
B. you are only liable for the money you invest in the business.
C. as a franchisee your franchisor is responsible for the debts of the franchise.
D. you are liable for whatever advertising promises your firm makes.
________ comprise about 20% of all businesses but account for about 81% of U.S. business receipts.
A. Corporations
B. Partnerships
C. Sole proprietorships
D. Limited liability companies
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