Stephen decides his business will begin staying open until 7 p.m.instead of 6 p.m.The next day, the shop stays open until 7 p.m.This environment of flexibility to quickly change is characteristic of what form of business organization?
A) corporation
B) partnership
C) S-corporation
D) flexible partnership
E) sole proprietorship

Question

Quizplus · Accepted Answer

The scenario suggests that Stephen's business is likely a sole proprietorship, which is the simplest form of business organization and allows for flexibility in decision-making and operations. There is no need for consultation with other partners, shareholders, or a board of directors. Stephen was able to quickly make the decision to change the store's hours and implement it the next day without any bureaucratic hurdles.

Stephen Decides His Business Will Begin Staying Open Until 7