Which of the following is a characteristic of a sole proprietorship?

A sole proprietorship is defined by its singular ownership structure. This means that there is one individual who owns and operates the business, affording them complete control over all decisions and operations. This characteristic enables the owner to not only make business decisions independently but also to directly reap the benefits of any profits generated by the business.

In contrast to other business structures, such as partnerships or corporations, a sole proprietorship does not involve shared ownership or input from multiple stakeholders. This results in a straightforward management style and allows for the flexibility to make swift operational changes without the need for consensus from others.

While limited liability protection, mandatory double taxation, and shared profit obligations may apply in other business forms—like corporations or partnerships—these facets are not relevant within the context of a sole proprietorship. Hence, the defining characteristic of a sole proprietorship remains its nature of single ownership and full control.