Ask Question
14 February, 06:04

1. Jay is the owner of TooCan Tan, a luxury spa and tanning salon that caters to individuals who desire the ultimate experience in relaxation. Jay is aware that being the sole owner of the business makes him responsible and liable for every aspect of the business. The type of business, which best describes the operation of TooCan Tan is

+4
Answers (1)
  1. 14 February, 06:19
    0
    Sole Proprietorship

    Explanation:

    Sole proprietorship is a form of business in which all liabilities, risks&responsibilities (especially in financial aspect) are being borne by a single individual. The individual may not necessarily be the operational entity in the business as he/she in question can employ employees he/she so desires, but when it comes to structuring, legality&sensitive decisions affecting the business, it is borne solely by the individual. This form of business is devoid of partnership, which explains why the demise of the owner is likely to bring an end to the business.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “1. Jay is the owner of TooCan Tan, a luxury spa and tanning salon that caters to individuals who desire the ultimate experience in ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers