Ethan founded and operated a lunch-only catering business, which specialized in providing fresh, delectable, eat-at-your-desk lunches to office workers. When he died, the business was dissolved because there was no plan for succession (control) in the event of his death. This is an example of:

Question

Maggie Richard

Business

11 April, 11:54

Ethan founded and operated a lunch-only catering business, which specialized in providing fresh, delectable, eat-at-your-desk lunches to office workers. When he died, the business was dissolved because there was no plan for succession (control) in the event of his death. This is an example of:

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Shyla Pearson · Answer 1

Sole Proprietorship.

Explanation:

This is an example of a Sole Proprietorship. It is a form of business owned by one person. The owner provides the capital (usually not that large), has unlimited liability in the business, and the life of the business depends on the existence of the owner; if he falls ill or passes away and there's no succession plan, the business would dissolve.