A business run by the individual who owns it is referred to as a(n)_____.
A) franchise
B) owner-managed firm
C) professionally-owned business
D) novelty firm

Question

Quizplus · Accepted Answer

An owner-managed firm is a business where the individual who owns it also manages and operates it. This type of business is often smaller in scale and the owner has a high level of control over decision-making and operations. Franchise, professionally-owned business, and novelty firm are not necessarily owner-managed.

A Business Run by the Individual Who Owns It Is