Paul Hyatt owns and operates DeepClean, a Florida-based company that cleans up mold and mildew in homes and businesses.As the sole proprietor of the business, he has unlimited liability, which means:
A)he has unlimited access to funds
B)he is fully liable for all business debts
C)he usually has to put in an unlimited number of hours
D)he must have liability insurance
E)he is free from government regulation

Question

Quizplus · Accepted Answer

As the sole proprietor, Paul Hyatt is personally responsible for all debts and obligations of the business. This means if the business cannot pay its debts, creditors can go after his personal assets.

Paul Hyatt Owns and Operates DeepClean, a Florida-Based Company That