Starting a new business as a sole proprietorship
A) requires retaining the services of an attorney.
B) is simple, but the proprietorship fee is very expensive in some states.
C) is usually simpler and less expensive than starting other forms of ownership.
D) is very similar to starting a business as a corporation.

Question

Quizplus · Accepted Answer

Starting a new business as a sole proprietorship is generally simpler and less expensive compared to starting other forms of ownership. It does not require retaining the services of an attorney, and the proprietorship fee is usually not expensive. However, it is important to obtain any necessary licenses or permits for the business.

Starting a New Business as a Sole Proprietorship