Laura wants to start a business, but she is unsure of the legal form best for her. Short of cash, she has decided to take the form that is the least expensive and most flexible in terms of decision making and implementation. Which would you recommend?
A) Joint venture
B) Partnership
C) Sole proprietorship
D) Cooperative
E) Corporation

Question

Quizplus · Accepted Answer

The least expensive and most flexible legal form for a business is a sole proprietorship. It is simple to set up and easy to manage, and the owner has complete control over the business's decisions and operations. However, it also means that the owner is personally responsible for all liabilities and debts of the business.

Laura Wants to Start a Business, but She Is Unsure