SOLE PROPRIETOR Definition

Bookmark and Share

SOLE PROPRIETOR is an individual who owns a business as opposed to stock in a corporation. A sole proprietor pays no corporate income tax but has unlimited liability for his/her business debts and obligations. See SOLE PROPRIERTORSHIP.

Learn new Accounting Terms

SECURED is an obligation backed by a pledge of collateral. Opposite of unsecured.

NET INCOME is the difference between a businesses total revenue and its total expenses. This caption and amount is usually found at the bottom of a companys Profit and Loss statement. Same as Net Profit.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.