Which form of ownership is the least costly to form?
A)Sole proprietorship
B)Corporation
C)Partnership
D)Limited liability corporation

Question

Quizplus · Accepted Answer

Sole proprietorship is the least costly to form because it doesn't require any legal documentation and there are no legal fees associated with setting it up. Additionally, the owner has full control over the business and only needs to file individual tax return forms. However, this form of ownership has unlimited liability which means the owner is personally liable for all debts and legal issues related to the business.

Which Form of Ownership Is the Least Costly to Form