alleryA single individual runs a bakery with no partners and no shares issued. That structure is a:
ASole partnership
BSole proprietorship
CSole subscription
DSole underwriting
Answer & Solution
Correct answer: B. Sole proprietorship
1. Ownership rests with exactly one person.
2. No co-owners and no shareholders are involved.
3. That structure is a sole proprietorship.
_Source: OpenStax Principles of Financial Accounting, Chapter 2, Introduction to Financial Statements._
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