A ________ is the simplest form of a business to establish, as the person who owns it and the business itself are treated as the same entity.

Question

Quizplus · Accepted Answer

A sole proprietorship is a business owned and operated by one person. It is the easiest and cheapest type of business to establish since the owner and the business are treated as the same entity, and there are no separate legal requirements for setting it up. The main disadvantage of a sole proprietorship is that the owner has unlimited personal liability for the business's debts and obligations.

A ________ Is the Simplest Form of a Business to Establish