The cheapest business to form is typically the
A) General corporation
B) Sub-chapter S Corporation
C) General Partnership
D) Limited Partnership
E) Sole proprietorship

Question

Quizplus · Accepted Answer

The cheapest and easiest business to form is a sole proprietorship because it does not require any formal documentation filing or legal fees. The owner is responsible for all aspects of the business and has complete control over it. However, there is no distinction between the owner's personal assets and the business's liabilities, which may lead to personal financial risk.

The Cheapest Business to Form Is Typically the