Tyler has been operating his business as a sole proprietorship but decides that it is too much work for him to do alone.He does not want to file a lot of government forms,but would like to bring in someone to own and operate it with him.Tyler needs a
A) partner.
B) wife.
C) merger.
D) limited-liability company.

Question

Quizplus · Accepted Answer

Bringing in a partner would allow Tyler to share the workload with someone else without having to go through the complicated process of filing forms for a different type of business structure. A partnership would also allow Tyler and his partner to share profits and losses in the business, which could be beneficial for both parties. A merger and a limited-liability company are not necessary for Tyler's current situation. The option of a wife is not relevant to the business structure or operation.

Tyler Has Been Operating His Business as a Sole Proprietorship