Which of the Following Statements Is True of an Individual

question 50

Multiple Choice

Which of the following statements is true of an individual proprietorship?

• A)It is owned by two or more partners.
• B)It is run and owned by the same person.
• C)It is considered a distinct and separate entity from its owners.
• D)It is a rare form of business ownership in the United States.

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Definitions:

Leasehold Improvements

Changes that make a property more valuable, such as painting, adding shelves, or installing new lighting.

Stand-Alone Location

A business or establishment located independently rather than within a mall or other business complex.

Destination-Oriented Products

Goods that cater to the specific needs or interests of people traveling to a particular place.

Stand-Alone Locations

Business sites that are physically separate and distinct from other buildings or businesses, often offering advantages like visibility and accessibility.