Question

select all the correct answers. which two sentences describe characteristics of a sole proprietorship? the owners are called partners. the owner accepts full financial liability. the business is treated as a separate tax entity. all profits go to the individual who owns the business.

Explanation:

A sole proprietorship is owned by one individual, not partners. The owner has unlimited (full) financial liability, the business is not a separate tax entity, and all profits belong to the single owner.

Answer:

• The owner accepts full financial liability.
• All profits go to the individual who owns the business.