Which of the following is a popular small business form because it is easy to start and has few legal requirements?
A) A partnership
B) A proprietorship
C) A corporation
D) An association
E) A trade alliance

Question

Quizplus · Accepted Answer

A proprietorship is a popular small business form because it is easy to start and has few legal requirements. It is owned and operated by a single person, who is personally responsible for all the debts and obligations of the business. A partnership involves two or more individuals sharing ownership of a business, and a corporation is a separate legal entity that is owned by shareholders. An association and a trade alliance are not common small business forms.

Which of the Following Is a Popular Small Business Form