Charles and Ellen,an unmarried couple,run an ice cream store.The business is not incorporated,and they have filed no formation papers with the state.Their business is a
A)sole proprietorship.
B)partnership.
C)franchise.
D)limited liability company.

Question

Quizplus · Accepted Answer

Since Charles and Ellen are running the ice cream store together and have not filed any formation papers with the state, it is most likely that their business is a partnership. A sole proprietorship would mean that only one person owns and operates the business, and a franchise would involve buying into an existing business model. A limited liability company requires formal formation and registration with the state.

Charles and Ellen,an Unmarried Couple,run an Ice Cream Store