Question

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

Answer 1

Sole proprietor is what it is

Answer 2

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.