Asked by Larissa Lopez on May 25, 2024
Verified
Britton is starting a new internet business by himself. Which of the following business organization formats will he most likely use to start the business?
A) Sole proprietorship
B) Limited partnership
C) Limited liability partnership
D) Corporation
E) Limited liability company
Sole Proprietorship
A sole proprietorship is a business owned and operated by a single individual, where there is no legal separation between the owner and the business entity.
- Acquire knowledge of the essential ideas and distinctions between sole proprietorships, partnerships, limited liability companies, corporations, and cooperatives.
Verified Answer
TH
thabiso hlongwaneMay 28, 2024
Final Answer :
A
Explanation :
Britton, starting a new internet business by himself, is most likely to use a sole proprietorship. This is because a sole proprietorship is the simplest and most common structure chosen to start a business when there is only one owner involved, making it suitable for Britton's solo venture.
Learning Objectives
- Acquire knowledge of the essential ideas and distinctions between sole proprietorships, partnerships, limited liability companies, corporations, and cooperatives.