(1 point)
Responses
a single person receives all the profits
a single person receives all the profits
the company is its own legal entity
the company is its own legal entity
the business is owned by shareholders
the business is owned by shareholders
individuals are liable for their actions
1 answer
The correct response is:
individuals are liable for their actions.
Both sole proprietorships and partnerships do not create a separate legal entity from their owners, meaning that the owners are personally liable for the business's debts and obligations.
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