Respuesta :
Danielson opened a business in which she had unlimited liability and could avoid annual filing requirements. Danielson likely ran a business known as a Sole proprietorship.
What is Sole proprietorship?
A sole proprietorship is an unincorporated firm, therefore unlike limited liability companies, corporations, etc., it wouldn't be subject to governmental regulations.
Due to the simplest business structure it enables, even though sole proprietorships place a lot of constraints on the owner, they are the simplest to start in the market. One won't encounter any difficulties when beginning a proprietorship firm because there are no government regulations enforced on this sort of enterprise.
In this case, there is only one proprietor owner, and he is in charge of keeping all the money the company will make in each of the financial categories. He will be in charge of managing the losses, court cases, and other setbacks, though. The total amount of profits the owner has made will include the taxes that must be paid.
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