Question

Rock City is a community in the Midwest with a population of 23,000 people. Three dental clinics serve the city and the surrounding area. Perfect Smile is owned and operated by the newest dentist in town, Dr. Martin Harris, who employs one dental assistant and a secretary/receptionist. Drs. Joan Bennett and Joseph Young jointly operate Teeth for Life and provide a few more services than Dr. Harris. Rock City Dental Clinic has been in business for 58 years, employs 38 people, and offers a range of services that include dentures, orthodontics, and minor oral surgery.
Given the size of his operation and the fact that he's just opened his office, Dr. Harris is probably organized as a _____.

a. partnership
b. sole proprietorship
c. corporation
d. cooperative

Answer 1

Answer:

Sole proprietorship.

Explanation:

Sole proprietorship is a type of business fully owned and controlled by the owner and the gains and losses of the business fall solely on him as there is no separate legal entity between him and the business.

One major attribute is that the owner is in control of his business. Even though he may have some people working with in the management of the company , the key factor that determines company status is ownership.

As long as there in no partnership agreement with other parties , he remains the sole owner.