sole proprietor

Dictionary of Accounting Terms for: sole proprietor
sole proprietor

unincorporated business with one owner having all the net worth. In the event the business fails, the owner isates.personally liable for all debts incurred.

Dictionary of Banking Terms for: sole proprietor
sole proprietor

unincorporated business owned and controlled by one person, ordinarily under a business name (doing business as) other than the owner’s. Sole owners are treated as individual accounts, and may open interest bearing checking accounts, unlike corporations.

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