A business that is not a legal entity, where there is one owner who is fully liable for all debts, is:
A) a sole trader.
B) a proprietary company.
C) a partnership.
D) none of the above.

Question

Quizplus · Accepted Answer

A sole trader is an individual who owns and runs their own business, with no legal distinction between the owner and the business. As a result, the owner is fully liable for all debts and obligations of the business. A proprietary company is a type of business entity that is a separate legal entity from its owners, while a partnership involves two or more people sharing ownership and liability for a business. None of the above is not the correct answer, as a sole trader is a specific type of business structure.

A Business That Is Not a Legal Entity, Where There