BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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franchise
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partnership
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sold prprietorship
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corporation
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Detailed explanation-1: -A franchise is a business that is owned by one or more people who provide products or services under the branding and rules set forth by a parent corporation. As a part of ownership, the corporation assists its franchisees with marketing and inventory, charging the franchisee fees in return.
Detailed explanation-2: -Sole Proprietorship This is a business run by one individual for their own benefit. It is the simplest form of business organization. Proprietorships have no existence apart from the owners.
Detailed explanation-3: -Limited unregistered business is not a principal form of business organization. This type of business formation does not exist. Partnerships, sole proprietorship and corporations are all valid forms of business organizations.
Detailed explanation-4: -A corporation, sometimes called a C corp, is a legal entity that’s separate from its owners. Corporations can make a profit, be taxed, and can be held legally liable.