What type of business is a sole proprietorship? A. A business with two or more owners B. A business that sells only one product C. A business owned and managed by one person D. A business with many stockholders.
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What type of business is a sole proprietorship? A. A business with two or more owners B. A business that sells only one product C. A business owned and managed by one person D. A business with many stockholders.
The correct answer is C. A business owned and managed by one person.
A sole proprietorship is a type of business structure where one individual owns and operates the business. This person is responsible for all aspects of the business, including profits, losses, and liability. It is the simplest form of business ownership. If you have any more questions or need further explanation, feel free to ask!