Jovi's Corner, a toy store, abruptly closes down after the death of its owner. Without an heir or an experienced person to manage the store, Jovi's Corner is shut down, and the property is sold off to another party. The profits are donated to an orphanage. In the given scenario, Jovi's Corner is most likely an example of a _____.
A) limited liability company
B) corporation
C) limited partnership
D) sole proprietorship

Question

Quizplus · Accepted Answer

Jovi's Corner is most likely a sole proprietorship because it was dependent on a single owner and closed down due to the owner's death without an heir or successor.

Jovi's Corner, a Toy Store, Abruptly Closes Down After the Death