Questions: Which type of business organization is characterized by the fact that the person who owns the business and the business itself are treated as the same entity? Sole proprietorship Corporation General partnership Limited partner

The answer is Sole proprietorship.

A sole proprietorship is a type of business organization where there is no legal distinction between the owner and the business. The owner is personally responsible for all the debts and obligations of the business, and the business's income is considered the owner's income. This is the simplest and most common form of business organization.

A corporation is a separate legal entity from its owners, meaning that the business itself is distinct from the individuals who own it. This separation provides limited liability protection to the owners, meaning they are not personally responsible for the business's debts and obligations.

In a general partnership, two or more individuals own and operate a business together. While the partners share responsibility for the business, the partnership itself is not a separate legal entity from the owners. However, unlike a sole proprietorship, a partnership involves multiple owners.

A limited partnership includes both general and limited partners. General partners manage the business and are personally liable for its debts, while limited partners have limited liability and typically do not participate in management. The business itself is not treated as the same entity as the limited partners.