Asked by Ryleigh Geddes on May 05, 2024
Verified
Which form of business organization is the most common in the United States?
A) Sole proprietorship
B) Partnership
C) Corporation
D) Nonprofit organization
E) S corporation
Sole Proprietorship
A business owned and operated by a single individual, with no legal distinction between the owner and the business.
Corporation
A legal entity distinct from its owners that can own assets, incur liabilities, and sell stocks to raise capital.
Partnership
A legal form of business operation between two or more individuals who share management and profits.
- Comprehend the general traits and specifics of business entities in the United States' economic framework.
Verified Answer
ZK
Zybrea KnightMay 05, 2024
Final Answer :
A
Explanation :
Sole proprietorship is the most common form of business organization in the United States. According to the Small Business Administration, about 73% of businesses in the United States are operated as sole proprietorships. This is due to their simplicity and ease of formation.
Learning Objectives
- Comprehend the general traits and specifics of business entities in the United States' economic framework.
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