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

Question

Quizplus · Accepted Answer

Sole proprietorship is the best choice for Emile because it is the simplest and least expensive form of ownership. It involves only one owner who has complete control over the business and has unlimited liability for business debts. It does not require any formal registration or legal documentation, which reduces costs for Emile. Additionally, any profits earned by the business will be taxed as personal income, eliminating the need for costly corporate tax filings.

Emile Has Very Little Money with Which to Start His