Stephen decides his business will begin staying open until 7 p.m. instead of 6 p.m. The next day, the shop stays open until 7 p.m. This environment of flexibility to quickly change is characteristic of what form of business organization?
A) Corporation
B) Partnership
C) S-corporation
D) Flexible partnership
E) Sole proprietorship

Question

Quizplus · Accepted Answer

The characteristic of quickly changing a business decision denotes the flexibility of a sole proprietorship. In a sole proprietorship, the owner has complete control over the business, and can make decisions and changes to the business operations at their discretion. The other options, such as a corporation or partnership, involve more formal procedures and decision-making processes that may take longer to implement changes.

Stephen Decides His Business Will Begin Staying Open Until 7