Multiple Choice QuestionOf the following forms of business ownership, which is relatively easy and inexpensive to form?Multiple choice question.Sole proprietorshipS corporationCorporationPublic corporation
Question
Multiple Choice QuestionOf the following forms of business ownership, which is relatively easy and inexpensive to form?Multiple choice question.Sole proprietorshipS corporationCorporationPublic corporation
Solution
The answer is Sole proprietorship. This form of business ownership is the simplest and least expensive to establish. It involves just one individual who owns and operates the enterprise. If you decide to start a business with no other owners, or if you do not specify your business as any other kind of entity, you will be classified as a sole proprietorship by default.
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