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 organised as a
A) corporation.
B) partnership.
C) sole trader.
D) limited partnership.
E) limited-liability corporation.

Question

Quizplus · Accepted Answer

A sole trader, also known as a sole proprietorship, is a form of business structure where the owner is personally liable for all the debts and liabilities of the business. In this case, Glenn is the only owner and therefore would be categorized as a sole trader. The other options, such as corporation or partnership, involve multiple owners or a separate legal entity, which is not the case for Glenn's business.

Glenn Owns and Operates a Large Hardware Store in Missouri