Asked by Libby Marie on Jul 11, 2024
Verified
Judy has realized that she does not like working for others.She wants to open a business in which she will have maximum control and the least interference from government regulations.Which of the following forms of business is best suited for Judy's needs?
A) A joint venture
B) An S corporation
C) A sole proprietorship
D) A partnership
E) A C corporation
S Corporation
A corporation taxed as though it were a partnership with restrictions on shareholders.
Joint Venture
A partnership established for a specific project or for a limited time.
- Master the core aspects of sole proprietorships, considering details such as their scale, risk exposure, and oversight.
- Understand the impact of business ownership forms on control, decision-making, and regulatory obligations.
Verified Answer
BH
Brent HymanJul 15, 2024
Final Answer :
C
Explanation :
A sole proprietorship offers Judy the maximum control over her business with the least interference from government regulations. This business structure is the simplest and allows an individual to own and operate the business, making all the decisions without the need to consult with partners or corporate shareholders.
Learning Objectives
- Master the core aspects of sole proprietorships, considering details such as their scale, risk exposure, and oversight.
- Understand the impact of business ownership forms on control, decision-making, and regulatory obligations.
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