1. What is the primary characteristic of a sole proprietorship? A. Owned and operated by a single individual B. Requires multiple owners C. Must be registered with the SEC D. Limited liability protection
A. Owned and operated by a single individual
2. Which business structure typically offers the most protection for personal assets? A. Partnership B. Corporation C. Sole proprietorship D. General partnership
B. Corporation
3. In a limited partnership, which type of partner has control over business operations? A. Silent partner B. Limited partner C. General partner D. Minority partner
C. General partner
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