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Any Debts or Damages Incurred by a Firm Organized as a Sole

Question 347

Multiple Choice

Any debts or damages incurred by a firm organized as a sole proprietorship are:


A) The responsibility of the owner.
B) Limited to the amount the owner has invested in the firm.
C) Paid for out of a reserve contingency fund that sole proprietors are required by law to set up.
D) Normally covered by liability insurance.

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