BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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proprietorship
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partnership
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corporation
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retail
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Detailed explanation-1: -The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation. A Limited Liability Company (LLC) is a business structure allowed by state statute.
Detailed explanation-2: -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. A sole proprietorship is a business that is run by a single owner.
Detailed explanation-3: -Sole Proprietorship A type of business entity that is owned and run by one individual – there is no legal distinction between the owner and the business. Sole Proprietorships are the most common form of legal structure for small businesses. Taxation: A sole Proprietorship has pass-through taxation.