Final answer:
The type of ownership being described here is a c. sole proprietorship.
Step-by-step explanation:
The type of ownership being described here is a sole proprietorship. In a sole proprietorship, a business is owned and operated by one person. This type of ownership is especially common in professional services such as dental, legal, and accounting offices. Sole proprietorships are common in professional services such as dental, legal, and accounting offices because these types of businesses often start as small practices run by a single professional.
An advantage of a sole proprietorship is that it is relatively easy and inexpensive to set up. The owner can make all decisions independently and has the freedom to shape the business according to their vision and goals. However, a major disadvantage is that the owner bears all the financial risk and is personally liable for any losses or legal issues that may arise.