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A business organization that is owned and operated by a single individual is called:
  • a)
    Corporation
  • b)
    Partnership
  • c)
    Cooperative
  • d)
    Sole proprietorship
Correct answer is option 'D'. Can you explain this answer?
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A business organization that is owned and operated by a single individ...
A sole proprietorship is a business organization that is owned and operated by a single individual. The owner has complete control over the business and assumes all the risks and rewards. A corporation (a) is a separate legal entity owned by shareholders. A partnership (b) is a business owned by two or more individuals. A cooperative (c) is an association of individuals who voluntarily cooperate to meet their common economic, social, and cultural needs.
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A business organization that is owned and operated by a single individual is called:a)Corporationb)Partnershipc)Cooperatived)Sole proprietorshipCorrect answer is option 'D'. Can you explain this answer?
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