In a sole proprietorship, the __________ is entitled to any profits made by the firm but is also personally liable for all of the firm's debts or obligations.
a. Sole proprietor
b. CEO
c. Business manager
d. Corporate head
Question 2
__________ is an individual's personal responsibility for the debts or obligations of a business, using the personal assets of the business owner, such as a home, bank accounts, or other property, to pay the business obligations.
a. Corporate liability
b. Personal liability
c. Partnership liability
d. Shareholder liability
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