Question

Jacob is self-employed and reports all of his income and expenses in his personal income tax return. ______________

Answer 1

Sole proprietorship

Step-by-step explanation:

The sole proprietorship is the business organization in which there is only one owner who controls its day to day operations. In this, the owner has unlimited liability as he does whatever he wants without any restrictions

Also, in this the person should file his return on the personal income tax return where he disclosed all his incomes and expenses during the year

So this is an example of Sole proprietorship