A business form with one owner is called?

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Prepare for the Marketing End Of Pathway Exam. Study with flashcards and multiple choice questions, each with hints and explanations. Get ready for your exam!

Multiple Choice

A business form with one owner is called?

Explanation:
A sole proprietorship is a business form owned and run by a single person; there’s no legal separation between the owner and the business. This structure is simple to start, gives the owner full control, and profits are taxed as personal income. The owner also bears unlimited liability for business debts. The other options don’t fit: a partnership involves two or more owners; a corporation is a separate legal entity owned by shareholders; and a marketing mix is not a business form at all.

A sole proprietorship is a business form owned and run by a single person; there’s no legal separation between the owner and the business. This structure is simple to start, gives the owner full control, and profits are taxed as personal income. The owner also bears unlimited liability for business debts. The other options don’t fit: a partnership involves two or more owners; a corporation is a separate legal entity owned by shareholders; and a marketing mix is not a business form at all.

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