Emile has very little money with which to start his business so he wants to keep the cost or forming his company as low as possible. Which for of ownership would you recommend for Emile?

Question

Quizplus · Accepted Answer

A sole proprietorship is the simplest and least expensive form of business ownership. It requires no formal documentation or registration, and the owner has complete control over the business. Additionally, all profits and losses are the responsibility of the owner and are reported on their personal tax return, so there are no additional tax filings or fees. This would be the best choice for Emile in order to keep his costs low.

Emile Has Very Little Money with Which to Start His