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Sole proprietorship
Sole proprietorship can be defined as the simplest form of business in which a person can run a business; it simply refers to a business that is owned, and usually managed, by one person. Troy Smith initially started his root beer stand "Top Hat" as a sole proprietorship.
There are forms of business entities or forms of business ownership that are legal entities and some are not. What is meant by a legal entity is a business entity that has its own assets! separated from the assets of its founders or management. Businesses in the form of legal entities are:
- Limited Liability Company
- Cooperatives and
- Business Foundations
That are not in the form of legal entities are:
- Sole proprietorships
- Firm partnerships
- Limited partnerships
There are various forms of business ownership. Which form will be chosen depends on the act of considering the form of leadership of the capital structure, responsibility for the company's debts and receivables, and the continuity of the company. Forms of business ownership include:
- Sole Proprietorship
- Limited Liability Company (PT)
- Firm
- CV
- Cooperative
- Foundation
You can learn more about Sole proprietorship here brainly.com/question/1428023
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