Question

11 multiple choice 4 points what is a sole proprietorship? a business with limited liability and multiple partners a business owned and operated by multiple individuals a business owned, operated, and often financed by one person a business with unlimited liability and one or more partners

Explanation:

To determine the correct answer, we analyze each option:

• Option 1: A sole proprietorship does not have multiple partners and does not have limited liability (the owner has unlimited liability), so this is incorrect.
• Option 2: A sole proprietorship is owned and operated by one person, not multiple individuals, so this is incorrect.
• Option 3: A sole proprietorship is defined as a business owned, operated, and often financed by a single individual. This matches the definition.
• Option 4: A sole proprietorship has one owner (not one or more partners) and has unlimited liability, so this is incorrect.

Answer:

C. A business owned, operated, and often financed by one person (assuming the options are labeled A, B, C, D with the third option being C; if the original options' labels are different, adjust accordingly. Based on the given options, the third option is the correct one: "A business owned, operated, and often financed by one person")