Basil Pappas spent his youth working in the restaurants of several of his close relatives.Now,he wants to venture into his own business and has decided that he will open his own restaurant.Basil needs more money than he can come up with on his own,so he plans to ask his two brothers to put up some money in exchange for a share of ownership.Such an arrangement means that the company can't be formed as which of the following?

Question

Quizplus · Accepted Answer

A sole proprietorship is a business owned and operated by one individual, meaning there are no other owners or shareholders involved. Since Basil plans to involve his brothers as co-owners, the business cannot be a sole proprietorship.

Basil Pappas Spent His Youth Working in the Restaurants of Several