Question: Which of the following is NOT a type of business ownership?
Options:
Sole proprietorship
Partnership
Franchise
Limited liability partnership
Correct Answer: Franchise
Solution:
While franchises are a method of distributing goods and services, they are not a standalone form of business ownership.
Which of the following is NOT a type of business ownership?
Practice Questions
Q1
Which of the following is NOT a type of business ownership?
Sole proprietorship
Partnership
Franchise
Limited liability partnership
Questions & Step-by-Step Solutions
Which of the following is NOT a type of business ownership?
Step 1: Understand what business ownership means. It refers to the different ways a business can be owned, like sole proprietorship, partnership, corporation, etc.
Step 2: Identify the options given in the question. Look for types of business ownership.
Step 3: Recognize that a franchise is a way to sell products or services using a brand name, but it is not a type of ownership by itself.
Step 4: Conclude that since franchises are a method of distribution and not a standalone form of ownership, they are the correct answer to the question.
No concepts available.
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