Asked by Jessica Gonzales on May 11, 2024
Verified
The simplest business form is a
A) sole proprietorship.
B) limited liability corporation.
C) non-profit organization.
D) corporation.
Sole Proprietorship
A business structure where a single individual owns, operates, and is responsible for the business, enjoying all profits and bearing all losses.
Limited Liability Corporation
A business structure that combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.
Non-Profit Organization
is an entity that operates for a collective, public, or social benefit rather than generating profits for owners or investors.
- Familiarize yourself with the basic configurations of business organization, including sole proprietorship, partnership, and corporations.
Verified Answer
ON
Omar Nihad KoperlyMay 17, 2024
Final Answer :
A
Explanation :
A sole proprietorship is the simplest business form because it involves just one individual who owns and operates the enterprise, making it easier to start and less regulated compared to other business structures.
Learning Objectives
- Familiarize yourself with the basic configurations of business organization, including sole proprietorship, partnership, and corporations.