A _____ Is One That Is Independently Owned and Operated

question 47

Multiple Choice

A _____ is one that is independently owned and operated and is not dominant in its field of operation.

• A) monopolistic organization
• B) public enterprise
• C) close corporation
• D) small business

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Definitions:

Plaintiff

The party who initiates a lawsuit or legal action, seeking relief or damages from the defendant.

General Damages

Restitution for losses naturally expected from a breach of contract.

Compensatory Damages

Financial compensation awarded to a plaintiff to cover the actual loss or injury they suffered.

Partnership

A legal business structure where two or more individuals share ownership and management responsibilities, as well as the profits and losses.