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Eric wants to open a shoe store with his best friend. Which type of business should he pursue?

A. Franchise
B. Sole proprietorship
C. Non-profit
D. General partnership

Answer :

Final answer:

Eric and his friend should opt for a general partnership as they will jointly own and operate the shoe store. It allows them to share decision-making and responsibilities. Option d is the answer.

Explanation:

If Eric and his friend intend to jointly own and operate this shoe store, the most appropriate type of business for them would be a general partnership. A general partnership is a business structure where two or more individuals manage and operate a business in accordance with the terms and objectives defined in a Partnership Deed. This structure is applicable to businesses where decision making is shared, such as in Eric's case. In comparison, a sole proprietorship is for a single business owner, a franchise implies buying into an existing business model, and a non-profit would not be suitable if Eric and his friend are looking to profit from their venture.

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