BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS LAW

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which form of business ownership is the most common in the US?
A
sole proprietorship
B
partnership
C
corporation
Explanation: 

Detailed explanation-1: -The sole proprietorship is a popular business form due to its simplicity, ease of setup, and nominal cost.

Detailed explanation-2: -Sole Proprietorships are the most common form of legal structure for small businesses. Taxation: A sole Proprietorship has pass-through taxation. The business itself does not file a tax return.

Detailed explanation-3: -Sole proprietorships are the most common and simple form of business organization. They are formed by persons who own all or most of the business property and assets. They are 100% responsible for all of the control, liabilities and management of a business.

Detailed explanation-4: -A sole proprietorship is the simplest and most common business structure in the United States. Sole proprietorships are run by a single individual who is responsible for all business assets, profits and liabilities. Because this type of entity is so easy to form, administrative startup costs are minimal.

Detailed explanation-5: -A sole proprietor is someone who owns an unincorporated business by himself or herself. However, if you are the sole member of a domestic limited liability company (LLC), you are not a sole proprietor if you elect to treat the LLC as a corporation.

There is 1 question to complete.