According to the U.S. Small Business Administration, a small business is a(n) __________.
A) publicly held company
B) new venture
C) corporation
D) independently owned and operated business

Question

Quizplus · Accepted Answer

The U.S. Small Business Administration defines a small business as an independently owned and operated business. This means that the business is not publicly held and can be structured as a sole proprietorship, partnership, LLC, or any other legal form. While a small business may be a new venture or a corporation, these are not the defining characteristics of a small business.