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A sole proprietorship is defined as a business: a. that is five or less years old. b. with two or… 1 answer below » A sole proprietorship is defined as a business: a. that is five or less years old. b. with two or less owners. c. that is created informally. d. that is owned by a single individual. e. that has a single general partner. Dec 21 2015 06:58 PM