A legal organization of a firm where the business is owned by one individual who makes the business decisions, receives all the profits, and is legally responsible for the debts of the firm is a(n)

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A proprietorship is a type of business organization where a single individual, known as the proprietor, owns and controls the business. The proprietor makes all of the business decisions and is personally responsible for the debts of the firm, but also receives all of the profits.

A Legal Organization of a Firm Where the Business Is