A small business that consists of an individual or man and wife only is called a __________.*

Question

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A sole proprietorship is a type of business wherein there is only one individual or a man and wife who own and operate the business. This type of business is the simplest and most common form of business structure for small businesses. Partnerships consist of two or more owners, general partnerships have all owners sharing equal management capabilities, and corporations are separate legal entities with shareholders that own the business.

A Small Business That Consists of an Individual or Man