Sole Proprietorship Basics
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Questions and Answers

What is the simplest form of business structure?

  • Sole proprietorship (correct)
  • Limited liability company
  • Partnership
  • Corporation

    • In a sole proprietorship, who owns and operates the business?

  • One person (correct)
  • An elected board of directors
  • The government
  • A group of individuals

    • Which business structure offers the least separation between the business and its owner?

  • Sole proprietorship (correct)
  • Limited liability company
  • Partnership
  • Corporation

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