During college, Elyssa Wood earned extra money by using her culinary skills to cater special parties. After graduation, she decided to turn her part time job into a full time business that she plans to expand in the future. In the meantime, she wants to maintain compete control of the business. She will most likely organize the business as aa. master limited partnershipb. corporationc. general partnershipd. sole proprietorshipe. cooperative

Question

Hayden Phillips

Business

10 October, 21:35

During college, Elyssa Wood earned extra money by using her culinary skills to cater special parties. After graduation, she decided to turn her part time job into a full time business that she plans to expand in the future. In the meantime, she wants to maintain compete control of the business. She will most likely organize the business as aa. master limited partnershipb. corporationc. general partnershipd. sole proprietorshipe. cooperative

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Answers (1)

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Larry · Answer 1

Answer:sole proprietorship

Explanation:

What is the sole proprietorship?

This is the business that is operated by its owner and the owner is responsible for all the debts and taxation within the business.

A person who owns the business can use their name for the business like a salon business can be called after their name.

Most people go for this kind of business since it more simple to start and the cost to start may not be that much high.

The registration of the business comprises only registering the owner's name and getting a local operating licence then it is ready to go however the downfall may be that everything is on one person's shoulder.

If the business get into trouble with creditors they will be sued and have to pay even from their own money.