A proprietorship is a business

A) owned by one person.
B) owned by two or more persons.
C) organized as a separate legal entity under state corporation law.
D) owned by a governmental agency.

Proprietorship

A business that is owned and run by one individual, where there is no legal distinction between the owner and the business entity.

Legal Entity

An organization that possesses legal rights and responsibilities, including the ability to enter contracts, sue, and be sued; can be a company, non-profit, or government organization.

Governmental Agency

An organization established by a government to administer specific legislation and carry out public policies.