Final answer:
The correct answer is that one broker is designated as the company's qualifying broker. Georgia business licenses can be issued to sole proprietorships, and sales licensees are allowed to participate in the company's ownership and may incorporate themselves within the company. Hence, option (B) is correct.
Step-by-step explanation:
The correct answer to the question concerning Georgia business licenses is B: One broker is designated as the company's qualifying broker. This statement reflects the requirement that a particular individual within a real estate company, that operates in Georgia, serves as the responsible party for ensuring compliance with real estate laws and practices. In Georgia, as in many other states, real estate firms are required to have a qualifying broker who is licensed and oversees all transactions and activities that require a broker's supervision.
Option A is incorrect as sales licensees can have an ownership interest in the company. Option C is incorrect because business licenses can indeed be issued to sole proprietorships, which are businesses owned and operated by a single individual who is personally liable for the company's debts. Lastly, option D is incorrect because salespeople and associate brokers can incorporate themselves within the company for tax or liability reasons, typically as professional corporations or limited liability companies (LLCs).