Question 3

Which type of business offers the best chance for quick decision-making?

A) Corporation

B) Limited partnership

C) General partnership

D) Sole proprietorship

Answer: Sole Proprietership

Explanation:

A Sole proprietership offers the best chance of decision making because decisions are made by one person, the owner.

Whereas:

A Corporation is a company and a company's decisions are made by mainly the chief executive Officer together many other board members hence there is no chance for quick decision making in a company since a lot of people have to approve of the decision.

A general and limited partnership consists of 2 or more owners hence a lot of people are involved in making the decision.