Answer:
The answer is sole proprietorship
Explanation:
Sole proprietorship is the type of business that is set up by one man. It is also called one man's business. This one man is responsible for the debt and liabilities of the business. The entity concept which states that a business and its owner are separate, distinct and different does not apply here. He takes all the business decisions. He directs and gives order. Sole proprietorship is the oldest form of business.
Out of all the business formations, this enjoys the least governmental regulations. No disclosure is required, no business tax is imposed. Government gives this business room to operate freely
