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One who assumes all risks for the business and whose personal assets can be taken to pay creditors is called a(n)

Sagot :

Parrain

Answer: Sole proprietor

Explanation:

In a sole proprietorship, the owner is complete control of the business. They own a 100% of the shares and manage all aspects of the business.

Unfortunately as a result, there is no distinction between their assets and those of the business which means that they are personally liable for any risks that the business may incur. If the company goes bankrupt for instance, and the company assets aren't enough to settle debts, the personal assets of the sole proprietor would be sold off to settle the creditors.

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