What Is a Business That Is Established, Owned, Operated, and Often

question 100

Multiple Choice

What is a business that is established, owned, operated, and often financed by one person?

• A) sole corporation
• B) sole proprietorship
• C) solo proprietorship
• D) singular corporation

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Definitions:

Cash Disbursements

The outflow of cash to pay for goods, services, and financial obligations during a specific period of time.

Cash Receipts

The collection of money, including cash, checks, and credit card payments, received by a business during a period.

Minimum Cash Balance

The lowest amount of cash that a company or individual aims to hold in order to meet operational and transaction needs.

Net Operating Income

The profit generated from a business's core operations, excluding expenses and revenues from non-operating activities.