Answer:
False
Explanation:
The characteristics of a sole proprietorship are as stated below;
- Sole proprietorship is the simplest and easiest form of business setups
- The personal responsibility of the owner are unlimited.
- The business is owned by one person
- The business is taxed based on the personal income of the owner
From these characteristics, if the sole proprietorship acquires a legal business name, the owner then has unlimited liability.
