Starting a new business as a sole proprietorship:
A)Requires retaining the services of an attorney.
B)Is simple,but the proprietorship fee is very expensive in some states.
C)Is usually simpler and less expensive than starting other forms of ownership.
D)Is very similar to starting a business as a corporation.

Question

Quizplus · Accepted Answer

Starting a new business as a sole proprietorship is usually simpler and less expensive than starting other forms of ownership. While it may be beneficial to consult with an attorney, it is not always a requirement. Additionally, the fees associated with starting a sole proprietorship are generally lower than those for other forms of ownership.

Starting a New Business as a Sole Proprietorship