Who is responsible for the obligations of a business that is carried on by a sole proprietor?

Question:

Who is responsible for the obligations of a business that is carried on by a sole proprietor? What does this mean in practice for sole proprietors?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Managing the Law The Legal Aspects of Doing Business

ISBN: 978-0133847154

5th edition

Authors: Mitchell McInnes, Ian R. Kerr, J. Anthony VanDuzer

See More Books

Question Posted: Jun 03, 2019 09:17 AM

See More Questions

Who is responsible for COBRA payments?
Who is responsible for paying an arbitrator's fee?
Who is responsible for the structure and content of financial statements?
What is the result of executing the Clownfish program? A. The code compiles and prints swim! B. The code compiles and prints fish! C. The code compiles and prints a stack trace. D. One line of the...
Suppose that instead of defining vectors first, we had begun by defining one-forms, aided by pictures like Fig. 3.4. Then we could have introduced vectors as linear realvalued functions of one-forms,...
In Exercises use a graphing utility to graph the function and find the x-values at which is differentiable. f(x) = 4x x - 3
The enzyme lipase catalyzes the hydrolysis of esters of fatty acids. The hydrolysis of p-nitrophenyloctanoate was followed by measuring the appearance of p-nitrophenol in the reaction mixture: The...
The comparative financial statements of Bettancort Inc. are as follows. The market price of Bettancort Inc. common stock was $71.25 on December 31, 2014. Liabilities Instructions Determine the...
For the gas station site your firm has been provided a budget of $30,000 to perform a field investigation. Design an investigation to further evaluate the extent of contamination at and downgradient...
Kostrivas Company has gathered the following information. Units in beginning work in process ........ _0_ Units started into production .......... 40,000 Units in ending work in process ...........
You are the president of a large steel manufacturer and all of your corporation's legal work is done by one of the largest law firms in the country, Osman & Co. Your company regularly relies on...
Carol carried on a consulting business as a sole proprietorship. She met Steven Stevenson at a conference. Steven told Carol that he was a "senior litigator and partner" in a mid-sized Saskatoon law...
If a consumer researcher compares the mean price of 25 items purchased at one store to the mean price for the same 25 items purchased at a second store, how many degrees of freedom are there?
1. Mark decides to open a lemonade stand. To start, she needs $50 for a licence, $30 for materials (such as cups, lemons, sugar, ice), and $20 for a stand. He expects to sell 100 cups of lemonade at...
Tax planning for individuals and families is an ongoing process intended to reduce the overall taxes owed by the family and usually involves experiments with different tax-planning strategies....
Find each of the following products. 2 (a) 13 (b) 2 -2 403 41
Effective accounting practices are essential for businesses to achieve financial stability, optimize resource allocation, and make informed decisions for long-term success. In the dynamic and...
What are the key features of Pythons async/await syntax, and how does it improve upon previous concurrency models?
Nature's Juice Corporation operates three divisions that process and bottle natural fruit juices. The historical-cost accounting system reports the following information for 2017: Nature's Juice...
1. Use these cost, revenue, and probability estimates along with the decision tree to identify the best decision strategy for Trendy's Pies. 2. Suppose that Trendy is concerned about her probability...
If sales promotion spending continues to grow often at the expense of media advertis inghow do you think this might affect the rates charged by mass media for advertising time or space? How do you...
As a community service, disc jockeys from radio station WMKT formed a basketball team to help raise money for local nonprofit organizations. The host organization finds or fields a competing team and...
How should the acceptance of a profit-oriented, a sales-oriented, or a status quooriented pricing objective affect the development of a companys marketing strategy? Illustrate for each.
Mr . Frimpong is a used clothing dealer in Accra. The business recorded a turnover of Ghs 7 5 , 0 0 0 in 2 0 1 7 . During the year, Mr . Frimpong had the following expenditures, receipts and...
1. What are the goals of the purchasing department? 2. What is the role of the purchasing department in the organization? 3. What is the purchasing policy in place for purchases? 4. Why didn't the...
This is a two-part assignment. I want to expose you to another deduction that arises with micro and small businesses. That is Tax-in-Gross. If you say it carefully you may be able to visualize why...

Who is responsible for the obligations of a business that is carried on by a sole proprietor?

Question:

Step by Step Answer:

The sole proprietor is exclusively responsible for all the obligations of the sole pro...View the full answer

Managing the Law The Legal Aspects of Doing Business

Students also viewed these Business questions