BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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sole partnership
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limited partnership
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general partnership
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franchise partnership
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Detailed explanation-1: -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-2: -A limited liability company (LLC) is a corporate structure that protects its investors from personal responsibility for its debts or liabilities.
Detailed explanation-3: -The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation.
Detailed explanation-4: -Limited partnerships (LPs) and limited liability partnerships (LLPs) are both businesses with more than one owner, but unlike general partnerships, limited partnerships and limited liability partnerships offer some of their owners limited personal liability for business debts.