Asked by Tripp Goeldner on Jun 11, 2024
Verified
A sole proprietorship is
A) the simplest form of a business, in which one individual owns the business.
B) a professional corporation.
C) a complicated form of business in which one individual owns the business but another receives the profits.
D) None of these choices is correct.
Sole Proprietorship
The simplest form of business organization in which the owner is the business. Anyone who does business without creating a formal business entity has a sole proprietorship.
Professional Corporation
A type of corporation for professionals such as lawyers, doctors, and accountants, subject to specific regulatory provisions.
Business
An organization or enterprising entity engaged in commercial, industrial, or professional activities.
- Understand the basic forms of business organization, including sole proprietorship, partnership, and corporations.
Verified Answer
JD
Jacqueline De La CruzJun 12, 2024
Final Answer :
A
Explanation :
A sole proprietorship is indeed the simplest form of a business structure, characterized by a single individual owning and operating the business.
Learning Objectives
- Understand the basic forms of business organization, including sole proprietorship, partnership, and corporations.