Question

Glenn owns and operates a large hardware store in Missouri that employs about fifty people. He delegates some of the decision-making to two managers, but he remains the only owner. Glenn’s business is organized as a:

a) Corporation
b) Sole proprietorship
c) Partnership
d) Limited Liability Company (LLC)

Answer 1

Glenn's large hardware store with fifty employees, which he solely owns and where decision-making is partly delegated, is organized as a sole proprietorship.

Step-by-step explanation:

Glenn's business, a large hardware store in Missouri with about fifty employees, that delegates some decision-making to two managers but remains under his sole ownership, is organized as a sole proprietorship. A sole proprietorship is where the business is not a separate legal entity from the owner, meaning the owner is personally responsible for all debts and liabilities of the business and entitled to all profits. While Glenn has the option to choose other business forms like a partnership, corporation, or Limited Liability Company (LLC), the fact that he is the only owner and tied directly to the business operations indicates a sole proprietorship structure.