Antonia owns and runs a bakery in her neighborhood. She is the only person responsible for the liabilities of her bakery. Her bakery is an example of a(n)________.

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Antonia's bakery is an example of an individual proprietorship because she is the sole owner and takes on all liabilities for the business. A corporation is a separate legal entity, a partnership involves two or more owners sharing liabilities and profits, and a joint venture is a temporary partnership for a specific project.

Antonia Owns and Runs a Bakery in Her Neighborhood