TExES Marketing 6-12 (275) Practice Questions - TExES Marketing 6-12 (275) Exam

A sole proprietorship is best described as a business that is:

Owned and operated by one individual who has unlimited personal liability Owned by shareholders who elect a board of directors Owned by two or more partners who share profits and liability A separate legal entity that protects all owners from business debts

Correct Answer:

Owned and operated by one individual who has unlimited personal liability

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