Margie opened a used bookstore and is both the 100 percent owner and the store's manager. Which type of business entity does Margie own if she is personally liable for all the store's debts?

A. sole proprietorship

B. limited partnership

C. corporation

D. joint stock company

E. general partnership

The correct answer is a. sole proprietorship

Explanation:

There are various business organizations which are as follows:

1. Sole proprietorship: In this business organization, there is only one owner who control all the activities of the organisation. There is no separate entity between the owner and the business entity. It holds 100% ownership.

2. Limited Partnership: It includes two or more members who have limited liability which is equal to their investment in the company.

3. Corporation: Corporation is a business entity. It is a separate entity that is distinct from its members. It includes various members which categorized into a single entity that is presented in the law.

4. Joint stock company: It is the company in which the stock of the company is joined owned by the shareholders,

5. General partnership: It involves two or more partners who agree to distribute the profit and losses in their sharing ratio.

By going through out the meaning of all business entities, we get to know that Margie has sole proprietorship in which she is 100% owner and store manager.

Hence, the correct answer is a. sole proprietorship.