Answer:
b) sole proprietorship.
Explanation:
A sole proprietorship is popularly known as the one-person business. It is managed by the owner even though he may hire employees to assist in running the business. A sole proprietorship is a famous form of business ownership due to its ease of registration and start-up. In most jurisdictions, only a certificate of registration is required.
A sole proprietor is a person who owns the proprietorship business. He enjoys all the profits by himself and suffers all the losses alone. The main shortcoming of the sole proprietorship is that the proprietor has unlimited liability to the debt of the business. Should his or her business fail to raise sufficient assets to pay its debts, their personal properties can be used to settle the obligations.
