Rennie Hanks has a great idea for a new businessone he is sure will make a ton of money. He is eager to get started, so he wants to form his business with a minimum of hassle, expense, and red tape. He also wants to be his own boss and have complete control over the company. Rennie's goals suggest that he would seriously consider operating his business as a sole proprietorship.

Question

Rennie Hanks has a great idea for a new business­one he is sure will make a ton of money. He is eager to get started, so he wants to form his business with a minimum of hassle, expense, and red tape. He also wants to be his own boss and have complete control over the company. Rennie's goals suggest that he would seriously consider operating his business as a sole proprietorship.

Quizplus · Accepted Answer

A sole proprietorship is the simplest and most common form of business ownership. It is easy to set up and manage, and the owner has complete control over the company. Additionally, there is minimal government regulation and few legal formalities, making it a good option for someone like Rennie who wants to start a business quickly and with minimal red tape.

Rennie Hanks Has a Great Idea for a New Business­one

Rennie Hanks Has a Great Idea for a New Businessone