Business owned by a single person in unincorporated way is called

The correct answer is A. proprietorship.

A proprietorship is a business owned and operated by one individual. The owner is personally liable for the debts and obligations of the business.

A personal business is a business that is not incorporated. This can be a proprietorship, partnership, or limited liability company (LLC).

A private corporation is a corporation that is not publicly traded. This means that its shares are not available for purchase by the general public.

Personal ownership is not a legal term. It is generally used to refer to the ownership of property by an individual.

Here are some additional details about each option:

• Proprietorship: A proprietorship is a business owned and operated by one individual. The owner is personally liable for the debts and obligations of the business. This means that the owner’s personal assets, such as their home or car, can be used to satisfy the debts of the business.
• Partnership: A partnership is a business owned and operated by two or more individuals. The partners are personally liable for the debts and obligations of the business.
• Limited liability company (LLC): An LLC is a business that is owned and operated by one or more individuals. The members of an LLC are not personally liable for the debts and obligations of the business. This means that the members’ personal assets are not at risk if the LLC goes bankrupt.
• Private corporation: A private corporation is a corporation that is not publicly traded. This means that its shares are not available for purchase by the general public. Private corporations are typically owned by a small group of individuals or families.
• Personal ownership: Personal ownership is not a legal term. It is generally used to refer to the ownership of property by an individual.