Ronald is the sole owner of a fast food store. Over the past six months, his sales have fallen and the store has been running at
a loss as a result of a popular fast food chain outlet opening in the area. Friends and relatives who lent Ronald money to open the store want him to sell his personal property in order to repay those loans. What ownership category of business is Ronald in?
A. limited partnership
B. corporation
C. proprietorship
D. cooperative organization
1 answer:
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