Which of the following statements is the most accurate? Sole proprietorships:
A)are well suited for people who want to own a business and share in its profits without taking an active role in management.
B)are easy to start and end.
C)are the least risky form of business ownership.
D)must receive a state charter before they can legally conduct business.

Question

Quizplus · Accepted Answer

Sole proprietorships are the easiest form of business ownership to start and end because they do not require any formal paperwork or legal documentation to begin or terminate operations. However, they do involve some level of risk for the owner, as they are personally liable for any debts or legal issues incurred by the business. None of the other statements are accurate - sole proprietorships require active management from the owner, are not the least risky form of ownership, and do not require a state charter.

Which of the Following Statements Is the Most Accurate? Sole