Asked by Charles Myles on May 28, 2024
Verified
The proprietorship form of business organization
A) in most provinces, must have at least two owners.
B) is often chosen for single owner operated businesses.
C) is difficult to set up.
D) is classified as a separate legal entity.
Single Owner
Refers to a business structure where a single individual owns, manages, and is responsible for all aspects of the business, often known as sole proprietorship.
Legal Entity
An individual, company, or organization that has legal rights and obligations.
- Understand the distinctions among different forms of business entities and their attributes.
Verified Answer
SA
saeed aijazJun 01, 2024
Final Answer :
B
Explanation :
The proprietorship form of business organization is often chosen for single owner operated businesses because it is the simplest and least expensive form of business to establish and operate, especially for an individual.
Learning Objectives
- Understand the distinctions among different forms of business entities and their attributes.