Which Ownership and Management Alternative Is Simple to Form,fully Controlled

question 86

Multiple Choice

Which ownership and management alternative is simple to form,fully controlled by the owner,and subject to single taxation by the government?

• A)corporation
• B)sole proprietorship
• C)partnership
• D)franchising

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Definitions:

Obligations

Legal or moral duties that an individual or entity is bound to perform or uphold.

Substantially Perform

Fulfilling enough of a contractual obligation or duty that any remaining uncompleted parts are considered minor or insignificant.

Accord and Satisfaction

A legal settlement where two parties agree to resolve a dispute by the debtor providing payment or performance that is different from what was originally owed.

Operation of Law

Changes in legal rights or obligations that occur automatically due to legal rules, rather than the action of any party.