Maurice would like to own a train store and operate it by himself. He has enough money to open it and operate it on his own and elects to do so. What form of business is this?
A)Sole proprietorship.
B)Partnership.
C)LLC.
D)S-corporation.

Question

​Maurice would like to own a train store and operate it by himself. He has enough money to open it and operate it on his own and elects to do so. What form of business is this?
A)​Sole proprietorship.
B)​Partnership.
C)​LLC.
D)​S-corporation.

Quizplus · Accepted Answer

A sole proprietorship is a business that is owned and operated by one individual. It is the simplest and most common form of business ownership. Maurice is the only one funding the business and will be the only one making decisions, so a sole proprietorship is the best choice for him.

​Maurice Would Like to Own a Train Store and Operate

Maurice Would Like to Own a Train Store and Operate