Which of the following legal forms of business is owned and usually operated by a single person who is responsible for its debts?

Question

Quizplus · Accepted Answer

A sole proprietorship is a business owned and operated by a single person who is personally responsible for its debts. This means that the owner's personal assets could be at risk if the business incurs debts or legal liabilities. Cartels, corporations, general partnerships, and limited partnerships have multiple owners or shareholders.

Which of the Following Legal Forms of Business Is Owned