A Single Person Carrying on a Business for Profit, with Control

question 55

True/False

A single person carrying on a business for profit, with control over its operation, can form a partnership.

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Definitions:

Foreign Producers

Companies or individuals located outside a country's borders that produce goods or services for sale within that country.

Importing Country

A country that buys goods and services from abroad for domestic consumption or use.

Quota Rights

Entitlements allocated by governments or international bodies that allow entities to import or export a specified quantity of goods.

Tariff Revenue

Income that a government earns from imposing taxes on imported goods.