What is a business that is owned by and operated for the benefit of patrons using its services called?
A) Joint venture
B) Fractional ownership
C) Cooperative
D) Proprietorship

Question

Quizplus · Accepted Answer

A business that is owned by and operated for the benefit of its patrons is known as a cooperative. In this type of business, the patrons are also the owners and have a say in the decisions and profits of the business. Joint venture refers to a business partnership between two or more entities, while fractional ownership refers to the joint ownership of a certain asset. Proprietorship refers to a business owned and operated by an individual.

What Is a Business That Is Owned by and Operated