Glenn owns and operates a large hardware store in Missouri that employs about fifty people. He delegates some of the decision making to two managers, but he remains the only owner. Glenn's business is organized as a
A) corporation.
B) partnership.
C) sole proprietorship.
D) limited partnership.
E) limited-liability corporation.

Question

Quizplus · Accepted Answer

A sole proprietorship is the simplest form of business organization that is owned and operated by one individual. In this case, Glenn is the only owner of the hardware store. Additionally, he has delegated some decision-making power to two managers, but he remains the sole proprietor. Therefore, a sole proprietorship is the best fit for Glenn's business. The other options, such as a corporation, partnership, limited partnership or a limited-liability corporation, involve multiple owners or investors, and do not fit the description of Glenn's business.

Glenn Owns and Operates a Large Hardware Store in Missouri