The Simplest Form of Business Owned and Operated by One

question 156

Multiple Choice

The simplest form of business owned and operated by one person is called a(n)

• A) franchise.
• B) partnership.
• C) S-corporation.
• D) sole trader.
• E) syndicate.

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Definitions:

Existing Product

A product that is already available in the market, as opposed to a new or forthcoming product.

Improved Version

An updated iteration of a product that is enhanced to offer better performance, additional features, or other improvements over the original.

Joint Venture

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task or project.

Local Market Knowledge

Understanding of the specific dynamics, consumer behaviors, and competitive landscape in a particular geographic area.