The cheapest business entity to form is typically the:
A)limited liability company.
B)joint stock company.
C)general partnership.
D)limited partnership.
E)sole proprietorship.

Question

Quizplus · Accepted Answer

The cheapest business entity to form is typically a sole proprietorship because it does not require any formation or registration fees with the state government. The business income and expenses are reported on the owner's personal tax return, and there are no formal requirements for record-keeping or meetings. However, the owner has unlimited personal liability for the business's debts and legal obligations.

The Cheapest Business Entity to Form Is Typically The