Oregon Construction Contractors (CCB) Practice Test

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Prepare for the Oregon CCB Test with our study materials. Use flashcards and multiple-choice questions with explanations and hints. Ensure you're ready for exam success!

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How many owners may a sole proprietor have?

0 Owners
1 Owner
2 Owners
Multiple Owners

The correct answer is: 1 Owner

A sole proprietor is defined as a single individual who owns and operates a business. This means that a sole proprietor has one owner who personally assumes all obligations, liabilities, and profits of the business. The structure is designed for simplicity, allowing the owner to have complete control over the business decision-making and operations without the complexities of having partners or multiple owners involved. Sole proprietorships are common for freelancers, small business owners, and solo practitioners who wish to maintain full ownership and management of their operations. Hence, the only correct answer is that a sole proprietor has one owner.