When Selena started her all-natural homemade soaps business, she made

QUESTION

When Selena started her all-natural homemade soaps business, she made and sold the soaps from her garage. Her father gave her startup money to pay for ingredients and packaging materials, which made him a silent partner.

Selena has since paid him back in full. What kind of company is Selena’s now?
A) a general partnership
B) a sole proprietorship
C) a limited partnership
D) a limited liability company
E) a B corporation

ANSWER

Answer: B
Explanation: B) Selena owns the business by herself and owes no one else for the startup costs.