Question & Answer

Simplest ownership structure

Which of the following business ownership structures is the simplest and easiest to set up? (A) A partnership (B) An LLC (C) A sole proprietorship (D) A corporation

1 Answer

Verified archive
Quizzma TeamSeptember 15, 2025

The correct answer is (C) A sole proprietorship.

A sole proprietorship is the simplest and easiest business structure to set up because it requires minimal formalities, such as registration and ongoing compliance requirements. It is owned and operated by a single individual, making it straightforward in terms of management and tax filing. If you have more questions or want to dive deeper into business structures, feel free to ask or check the extended services page!