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A(n) ________ is an unincorporated business owned and run by one individual in which there is no distinction between the business and the owner.

User Conroy
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Answer:

Sole Proprietorship

Step-by-step explanation:

Sole Proprietorship is a business enterprise owned, regulated & managed by a singe entrepreneur.

In this case, firm & enterprise are not separate but unanimous entities. It is unincorporated means that it doesn't have a separate legal entity.

So, the entrepreneur's liability towards firm's claims is unlimited, i.e entrepreneur's personal assets can be used to settle firm's liabilities.

This business form has advantages : Easy establishment & registration compliances, full freedom & decision making power.

It also has disadvantages : Unlimited Liability & Low expansion scope.

User Countunique
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