Which of the Following Is True About Proprietorship

question 27

Multiple Choice

Which of the following is true about proprietorship?

• A) It is frequently used in finance, insurance, and real estate.
• B) It is the most popular form of business in the United States.
• C) The owner of the business has to share the profits with his partner.
• D) It is owned by two persons who have unlimited liability for its debts and obligations.

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Definitions:

Bounded Rationality Theory

A concept suggesting that decision-making is limited by the information available, the cognitive limitations of the decision maker, and the time constraints.

Perceptions

The process of interpreting sensory information to construct an understanding of the environment or situations, influenced by an individual's experiences and biases.

Emotions

are psychological states that reflect feelings, physiological changes, and behaviors in response to stimuli.

Decision Alternatives

The various options or courses of action available to a decision-maker in a decision-making process.