A Firm with a Single Owner Who Has Unlimited Liability

question 52

Multiple Choice

A firm with a single owner who has unlimited liability is

• A)a corporation.
• B)a sole proprietorship.
• C)a limited partnership.
• D)an unlimited partnership.
• E)a cooperative.

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Definitions:

Reduced By

A term indicating that a quantity is decreased or diminished by a certain amount or percentage.

Revenue

The total income generated by a business from its operational activities.

Sale

A transaction between two parties where the buyer acquires an asset from the seller for a specified amount of money.

Hammers

A tool typically used for driving nails into, or pulling them from, some other object. Generally, it involves a handle and a head.