Michelle 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

A sole proprietorship is the least expensive and most flexible legal form of business. It does not require any formal registration with the government and the owner has complete control over decision making and implementation. This form also allows for the owner to keep all profits without having to share with any partners or shareholders. Although there are some risks involved with unlimited liability, it is still the best choice for someone who is short on cash and wants a simple, low-cost way to start a business.

Michelle Wants to Start a Business,but She Is Unsure of the Legal