Question

The term of the business being dependent on the life of the business owner is referred to as ______.

1) Sole proprietorship
2) Partnership
3) Limited liability company
4) Corporation

Answer 1

The term of the business being dependent on the life of the business owner is referred to as Sole proprietorship.

Step-by-step explanation:

The term of the business being dependent on the life of the business owner is referred to as Sole proprietorship. A sole proprietorship is a business that is organized by one person, the business is not a separate entity from the owner, and the owner is responsible for all debts and liability of the business, as well as being entitled to all profits generated by the business.