Millie Has a Sole Proprietorship That Is Her Only Source

question 100

Multiple Choice

Millie has a sole proprietorship that is her only source of income.What legal action should she take to prevent the business from being ruined if she becomes incapacitated?

• A)Give someone who is competent power of attorney to continue the business.
• B)State in her will what she would like done with the company.
• C)Find a partner and change the legal organization of the company.
• D)Tell her heirs to sell as she can't prevent ruin with a sole proprietorship.

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Definitions:

Earliest Schemas

The fundamental cognitive structures formed in early childhood that help individuals categorize and understand the world around them.

Reflexes

Automatic, involuntary movements or actions in response to specific stimuli, present from birth and necessary for survival.

Qualitative Change

Transformation that involves a fundamental difference in nature or character, not merely in amount or volume.

Sucking, Swallowing, and Breathing

Fundamental activities crucial for newborn survival, involving reflexes necessary for feeding and respiration.