Holly and Trent
While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.
-If the business is legally Holly's and she assumes unlimited liability, then the business form would be:
A) a sole proprietorship.
B) a partnership.
C) a corporation.
D) a chapter S42.5.
E) none of these.

Question

Quizplus · Accepted Answer

Since Holly is the sole owner of the business and assumes unlimited liability, a sole proprietorship is the best choice.

Holly and Trent While Many Others Dreamed About Owning Their Own Business, Holly