Tyler would like to own a train store and operate it by himself.He has enough money to open it and operate it on his own and elects to do so.What form of business is this?
A) Sole proprietorship.
B) Partnership.
C) LLC.
D) S-corporation.

Question

Quizplus · Accepted Answer

A sole proprietorship is a type of business ownership in which an individual owns and operates the business on their own. This is the best choice for Tyler since he has enough money to start and run the business himself. It is also the simplest and most flexible form of ownership, which makes it perfect for small businesses. The other options (partnership, LLC, and S-corporation) involve multiple owners and more complex legal structures, which wouldn't be necessary or appropriate for Tyler's business.

Tyler Would Like to Own a Train Store and Operate