Which of the following is NOT a form of business ownership?
Practice Questions
1 question
Q1
Which of the following is NOT a form of business ownership?
Sole proprietorship
Partnership
Corporation
Franchise
A franchise is a business model that allows individuals to operate a business under a brand, but it is not a form of ownership itself.
Questions & Step-by-step Solutions
1 item
Q
Q: Which of the following is NOT a form of business ownership?
Solution: A franchise is a business model that allows individuals to operate a business under a brand, but it is not a form of ownership itself.
Steps: 5
Step 1: Understand what business ownership means. Business ownership refers to the legal rights and responsibilities of owning a business.
Step 2: Identify different forms of business ownership. Common forms include sole proprietorship, partnership, corporation, and limited liability company (LLC).
Step 3: Learn about franchises. A franchise is a way to operate a business using someone else's brand and business model.
Step 4: Recognize that a franchise is not a form of ownership. Instead, it is a method of running a business under a brand.
Step 5: Conclude that since a franchise is a business model and not a type of ownership, it is the correct answer to the question.
