Chapter 8 Section 1. Leonardo Orraca Michelle Aranguren Per.8. Sole Proprietorship. The first decision that an entrepreneur must make when starting a new business is to see in what form of business organization best serves their interests. Business Organization.
6% U.S sales
Liability: the legally bound obligation to pay debts.
Fringe benefit: payment other than wages or salaries. Examples are like health insurance, retirement pay or paid vacation.