Which of the Following Best Describes Sole Proprietorship

question 4

Multiple Choice

Which of the following best describes sole proprietorship?

• A) It is a business owned and operated by the public.
• B) It is a business owned by two people and operated by one.
• C) It is a business owned and carried on by one person.
• D) It is a business owned by two people but with limited liability.

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Definitions:

Youngest Populations

Regions or countries with a high proportion of children and young adults relative to their total population.

Global Product Strategy

A business approach that involves designing, developing, and marketing products with the global market in mind rather than focusing on individual countries.

Firm's Opportunities

Potential advantageous situations that a business can exploit to increase its value or market position.

Franchise Agreement

A legal contract between a franchisor and a franchisee, detailing the terms under which the franchisee operates a segment of the franchisor's business.