Question

Hailey Wilson loves to cook and receives unqualified praise whenever she prepares a meal for someone. Encouraged by these compliments and eager to put her culinary talents to good use, Hailey decides to open a small neighborhood restaurant. Since she plans to maintain complete control of the business, she will most likely organize it as a:
A. limited partnership.B. corporation.C. general partnership.D. cooperative.E. sole proprietorship.

Answer 1

Answer:

.E. sole proprietorship.

Explanation:

A sole proprietorship, also known as the sole trader, individual entrepreneurship, or proprietorship, is a type of enterprise that is owned and run by one person and in which there is no legal distinction between the owner and the business entity. Sole Proprietorship examples include small businesses, such as a single person art studio, a local grocery, or an IT consultation service. The moment you start offering goods and services to others, you form a Sole Proprietorship. It's that simple. Legally, there is no distinction between you and your business.

Answer 2

Answer:

Sole Proprietorship

Explanation:

Sole proprietorship business is the way she will set her business up.. Sole proprietor business is a business owned and manage by a person usually with middle or low capital.

Example of Sole proprietor business are Provision seller, Fashion Designer etc.

Features of Sole proprietor business are

a. Ownership: It is s business owned fully and manage by one person

b. Risk and Profit: The full risk is on the owner and he stands to enjoy all profit in the business alone.

c. Continuity: The cease of such business will only be caused by absence or decease of the owner.. The continuity of this type of business rest fully on the owner day to day activities.