Asked by Divine Diamante on Apr 29, 2024
Verified
In the United States most business firms are
A) corporations.
B) proprietorships.
C) partnerships.
D) cooperatives.
Business Firms
Organizations engaged in commercial, industrial, or professional activities, typically structured as partnerships, sole proprietorships, or corporations.
Corporations
Legal entities that are separate from their owners, with the right to own property, enter contracts, and engage in business.
Proprietorships
Businesses that are owned and operated by a single individual, with no legal distinction between the owner and the business entity.
- Distinguish among diverse types of business ownership and their distinct features.
Verified Answer
KP
Keval PatelMay 04, 2024
Final Answer :
B
Explanation :
Most business firms in the United States are proprietorships. This is because proprietorships, or sole proprietorships, are the simplest and most common structure chosen by new businesses. They are easy to set up, with fewer regulatory requirements and direct control by the owner.
Learning Objectives
- Distinguish among diverse types of business ownership and their distinct features.