13
QuizMultiple Choice

Unit 2: Understanding Microeconomics — Test

Question 13 • Personal Finance and Economics

Which are examples of sole proprietorships? Choose three correct answers.

Answer
A
franchise restaurants in a partnership
B
freelance writers
C
lawyers working for a corporation
D
tax preparer working his own business
E
doctors in a partnership
F
independent workers

Explanation

A sole proprietorship is a business owned and operated by one person. Independent workers, freelance writers, and a tax preparer running his own business fit this definition. Lawyers employed by a corporation and doctors or restaurant owners in partnerships are part of other business arrangements.

AI-written and checked against the verified answer.

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