A business owned by a single individual is called a:
A)corporation.
B)sole proprietorship.
C)general partnership.
D)limited partnership.
E)limited liability company.

Question

Quizplus · Accepted Answer

A sole proprietorship is a business owned by a single individual. A corporation is a type of business entity that is owned by shareholders, while a general partnership is a business owned by two or more individuals. A limited partnership is a type of partnership where there are at least one general partner and one or more limited partners, and a limited liability company is a hybrid between a corporation and a partnership.

A Business Owned by a Single Individual Is Called A