GK
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
A form of business organization that is authorized to act as a legal entity regardless of the number of owners.
|
|
partnership
|
|
|
proprietorship
|
|
|
distributor
|
|
|
corporation
|
Explanation:
Detailed explanation-1: -Sole Proprietorship – This is the traditional and popular form of business organization. Its formation is simple, and the owner controls the complete operations of a business and is liable for all financial burdens and debts. A long as they are the only owner, they have the right to operate any category of business.
Detailed explanation-2: -An overview of the four basic legal forms of organization: Sole Proprietorship; Partnerships; Corporations and Limited Liability Company follows.
There is 1 question to complete.