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JAMB Economics 1989 Question 22

Question 22

Business Organisations

Which type of business organization has the attribute of effectively combining management with control?

  1. A.Sole proprietorship
  2. B.Partnership
  3. C.Limited liability company
  4. D.Co-operatives.
Show the answer and explanation

Answer: A (Sole proprietorship)

Explanation

In a sole proprietorship one person both owns (controls) and manages the business.