Mr. simpson is liable for all the debts of his company. mr. simpson has which type of business organization?

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Chad Mayer

Social Studies

Today, 02:11

Mr. simpson is liable for all the debts of his company. mr. simpson has which type of business organization?

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Chris · Answer 1

Mr. Simpson is simply a Sole proprietor. It is the simplest business form under which one can operate a business. The sole proprietorship is not a legal entity. It simply refers to a person who owns the business and is personally responsible for its debts.