A Sole Proprietorship Is an Unincorporated Business Owned by One

question 45

True/False

A sole proprietorship is an unincorporated business owned by one person.

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Definitions:

Chain Of Command

The formal line of authority within an organization, defining who reports to whom, from the highest levels of leadership down to frontline employees.

Small Businesses

Enterprises or firms with limited revenue, employees, or resources, often characterized by independent ownership and operation.

Microbusinesses

Very small enterprises typically characterized by having fewer than 10 employees and operating with minimal capital investment.

Staffing

The process of hiring, positioning, and overseeing employees in an organization.