Which of the Following Statements Is the Most Accurate? Sole

question 190

Multiple Choice

Which of the following statements is the most accurate? Sole proprietorships:

• A)are well suited for people who want to own a business and share in its profits without taking an active role in management.
• B)are easy to start and end.
• C)are the least risky form of business ownership.
• D)must receive a state charter before they can legally conduct business.

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Definitions:

Duty of Care

The legal obligation to take reasonable care to avoid causing harm to another person, which varies depending on the relationship between the parties.

Economic Loss

Financial damages suffered by an individual or business, often due to breach of contract, negligence, or other wrongful actions.

Zoning By-Laws

Regulations established by local governments detailing the permissible uses for different areas or zones within a municipality.

Real-Estate Agent

A licensed professional who represents buyers or sellers in real estate transactions, providing guidance, negotiation, and expertise.