The proprietorship form of business organization
A) must have at least three owners in most states.
B) represents the largest number of businesses in the United States.
C) combines the records of the business with the personal records of the owner.
D) is characterized by a legal distinction between the business as an economic unit and the owner.

Question

Quizplus · Accepted Answer

The proprietorship form of business organization represents the largest number of businesses in the United States, according to the U.S. Small Business Administration. Option A is incorrect as there is no requirement for the number of owners in proprietorship. Option C is correct, as the personal and business records are not separated legally. Option D is incorrect, as there is no legal distinction between the owner and the business.

The Proprietorship Form of Business Organization