ENTREPRENEURSHIP

Detailed explanation-1: -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-2: -The answer is “B) Public agency". Public agencies are often governmental bodies and are not considered a business structure.

Detailed explanation-3: -The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation.

Detailed explanation-4: -A sole proprietorship is a business that can be owned and controlled by an individual, a company or a limited liability partnership. There are no partners in the business. The legal status of a sole proprietorship can be defined as follows: It is not a separate legal entity from the business owner.

Detailed explanation-5: -There are three common types of businesses-sole proprietorship, partnership, and corporation-and each comes with its own set of advantages and disadvantages.