Laura wants to start a business, but she is unsure of the legal form best for her.Short of cash, she has decided to take the form that is the least expensive and most flexible in terms of decision making and implementation.Which would you recommend?
A) joint venture
B) partnership
C) sole proprietorship
D) cooperative
E) corporation

Question

Quizplus · Accepted Answer

A sole proprietorship is the least expensive, simplest and most flexible form of business ownership. The owner has complete control over all decisions and operations and has direct access to profits, but is also personally liable for all debts and legal issues. It requires no special legal filings or fees, making it the most cost-effective option for someone starting a business with limited funds.

Laura Wants to Start a Business, but She Is Unsure