Tess and Tijuana Have Considered Starting Their Own Business but Are

question 337

Multiple Choice

Tess and Tijuana have considered starting their own business but are concerned about the possibility of losing their personal assets if the business fails.One way for Tess and Tijuana to avoid this risk would be to organize their firm as an) :

• A)General partnership.
• B)Limited partnership.
• C)Corporation.
• D)Sole proprietorship.

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Definitions:

Major Product

The primary product formed in the greatest amount during a chemical reaction.

Saponification

A chemical reaction involving the hydrolysis of fats or oils by an alkali to produce glycerol and soap.

Ester Hydrolysis

A chemical reaction in which an ester is converted into its constituent alcohol and acid by the action of water or a hydroxide ion.

Major Product

The main product formed in a chemical reaction, which is generated in greater amounts compared to any other product.