객관식
Which one of the following statements correctly applies to a sole proprietorship?
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1. Introduction to Accounting
Business Organization
객관식
Which of the following is true of a sole proprietorship?
A
Ownership can be easily transferred to others without legal formalities.
B
The owner has unlimited personal liability for the business's debts.
C
It is taxed as a separate legal entity from its owner.
D
It requires at least two owners to be established.
검증된 단계별 안내1
Understand the concept of a sole proprietorship: A sole proprietorship is a business owned and operated by one individual. It is the simplest and most common form of business organization.
Analyze the first statement: 'Ownership can be easily transferred to others without legal formalities.' This is incorrect because a sole proprietorship is tied to the individual owner, and transferring ownership typically requires dissolving the business and re-establishing it under a new owner.
Evaluate the second statement: 'The owner has unlimited personal liability for the business's debts.' This is correct because in a sole proprietorship, the owner is personally responsible for all debts and obligations of the business, meaning their personal assets can be used to settle business liabilities.
Assess the third statement: 'It is taxed as a separate legal entity from its owner.' This is incorrect because a sole proprietorship is not a separate legal entity. The business income is reported on the owner's personal tax return, and the owner pays taxes on the business income as part of their individual income tax.
Review the fourth statement: 'It requires at least two owners to be established.' This is incorrect because a sole proprietorship, by definition, is owned and operated by a single individual.
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