ENTREPRENEURSHIP

Detailed explanation-1: -Sole Proprietorships are the most common business type mainly because of the simplicity of them. They are easy to form and offer all control to the owner. The major disadvantage of a sole proprietorship is that the owner is held personally liable for the debt of the business.

Detailed explanation-2: -A sole proprietorship is the most common U.S. legal business structure, with minimal startup costs and various tax perks.

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: -Corporations and limited liability companies (LLC) are the most common types of business entities in the United States.

Detailed explanation-5: -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. Legal and tax considerations enter into selecting a business structure.