If no other form of business organization is chosen in a business operated by only one person, the business is by default a sole proprietorship.

Question

Quizplus · Accepted Answer

This is because a sole proprietorship is the default legal structure for a business operated by only one person. No formal registration is required, and the owner is personally responsible for all aspects of the business, including its debts and liabilities.

If No Other Form of Business Organization Is Chosen in a Business