A business started by only one person is called________.
Company
Sole proprietorship
Trust
Society
A
Company
B
Sole proprietorship
C
Trust
D
Society
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Solution
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A business started by only one person is called a sole proprietorship, it is the simple type of business to establish due to a lack of government regulation. These types of businesses are very popular among sole owners of businesses, individual self-contractors, and consultants. Many sole proprietors do business under the registration of their own names is not necessary for these types of business.
Thus the correct answer is B.
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