GK
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Partnership
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Sole Proprietorship
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Corporation
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Limited Liability Corporation
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Detailed explanation-1: -As Table 4.1 illustrates, sole proprietorships are the most popular form of business ownership, accounting for 72 percent of all businesses, compared with 10 percent for partnerships and 18 percent for corporations.
Detailed explanation-2: -Sole proprietorships comprise the majority of all business forms.
Detailed explanation-3: -Sole Proprietorship Simplicity of organization-this is the most common form of business organization in the United States because it is the easiest and least expensive to establish.
Detailed explanation-4: -Sole proprietorships are the most common form of business structure. This type of business is simple to form and operate, and may enjoy greater flexibility of management and fewer legal controls. However, the business owner is personally liable for all debts incurred by the business.
Detailed explanation-5: -Taxation: A sole Proprietorship has pass-through taxation. Liability: The Owner of the sole proprietorship has unlimited personal liability for any liabilities the business incurs. More items