Local residents have always thought the mom-and-pop store on the corner of Locust and Congress was a partnership between Mr. and Mrs. Jones. But Mr. Jones is the real owner. This probably means that the store is a
A)limited partnership.
B)sole proprietorship.
C)corporation.
D)cooperative.
E)joint venture.

Question

Quizplus · Accepted Answer

A sole proprietorship is a type of business structure where a single individual owns and operates the business. In this case, Mr. Jones is the sole owner of the store, making it a sole proprietorship.

Local Residents Have Always Thought the Mom-And-Pop Store on the Corner