Which ownership and management alternative is simple to form,fully controlled by the owner,and subject to single taxation by the government?
A)corporation
B)sole proprietorship
C)partnership
D)franchising

Question

Quizplus · Accepted Answer

Sole proprietorship is a business owned and controlled by a single individual. It is a simple and inexpensive form of ownership to establish and maintain. In this type of ownership, the owner has complete control over the business and all its earnings. The income generated by the business is taxed only once, as personal income tax for the owner, saving the business from double taxation. Therefore, a sole proprietorship is the best choice for this scenario.

Which Ownership and Management Alternative Is Simple to Form,fully Controlled