Question

Trilane Systems is a small business. Its owner, Myra, is also its only employee. She handles the business's operations herself and is responsible for all of the business's income and losses. In the context of the legal forms of business, Trilane Systems is aA. Subchapter S Corporation.B. limited liability partnership.C. general partnership.D. sole proprietorship.

Answer 1

Answer: Option D

Step-by-step explanation: In simple words, sole proprietorship refers to the business forms under which a single individuals operates the business and is personally liable for the debts of the firm as it will not be considered as a separate legal entity.

These businessmen usually operate in a small level with very little capital. Such structure is considered to be the easiest among all other structures.

In the given case, Myra is the owner as well as only employee of the organisation, hence we can conclude that she is operating a sole proprietorship.