Local residents have always thought the small store on the corner of Locust and Congress was a partnership between John and Joe, two brothers from the neighborhood. But Joe is the real owner. This probably means that the store is a
A) limited partnership.
B) sole proprietorship.
C) corporation.
D) cooperative.
E) joint venture.

Question

Quizplus · Accepted Answer

Since Joe is the sole owner of the store, it is most likely a sole proprietorship. A limited partnership would require two or more partners, a corporation would have a board of directors and shareholders, a cooperative would involve multiple members working together, and a joint venture is a temporary partnership for a specific project or goal.

Local Residents Have Always Thought the Small Store on the Corner