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Sole proprietorship

• A business owned by one person and operated for his or her own profit.

• A business owned by a single individual. The sole proprietorship pays no corporate income tax but has unlimited liability for business debts and obligations.

 
 Embedded terms in definition
 Income
Liability
Limited liability
Profit
Unlimited liability

<< Sold put Solvency >>

Managing Your Expenses on a Fixed or Reduced Income: Once you've retired, you finally have the opportunity to work at your dream job - keeping yourself happy. It's your chance to visit places you've always wanted to see, take up a new hobby and spend more time with your family and friends. But to be successful at this new position, you've got to make the most of your income and investments. Here are suggestions. More...

There is one thing stronger than all the armies in the world; and that is an idea whose time has come. - Victor Hugo

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