If no other form of business organization is chosen in a business operated by only one person, the business is by default a sole proprietorship

Indicate whether the statement is true or false

TRUE

Business

You might also like to view...

The President has the power to make treaties with the advice and consent of:

a. the House of Representatives. b. the Senate. c. both the House of Representatives and the Senate. d. either the House of Representatives or the Senate.

Business

Corbin, a partner in Dentists & Orthodontists Clinic, applies for a loan with Evermore Bank allegedly on the firm's behalf but without the authorization of the other partners. Evermore knows that Corbin is not authorized to take out the loan. If Corbin defaults on the loan, liability for its unpaid amount will be imposed on

a. Corbin and Doctors, jointly. b. Corbin only. c. Doctors only. d. Evermore only.

Business