Question: Chapter 1 - Mini Case b - The proprietorship has three important limitations: (1) it is difficult for a proprietorship to obtain large sums of

Chapter 1 - Mini Case b - The proprietorship has three important limitations: (1) it is difficult for a proprietorship to obtain large sums of capital; (2) the proprietor has unlimited personal liability for the business's debts, and (3) the life of a business organized as a proprietorship is limited to the life of the individual who created it.

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