Which of the Following Are Common Forms of a Business

question 8

Multiple Choice

Which of the following are common forms of a business?

• A)Sole trader ship
• B)Partnership
• C)Non-profit
• D)All of these choices

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Definitions:

Surviving LLC

A term used to describe a limited liability company that continues to exist after a merger or consolidation, absorbing the assets and liabilities of the other entity.

LLC

Limited Liability Company; a business structure in the United States that protects its owners from personal responsibility for its debts or liabilities.

Share Profits

The division of net profits among the shareholders or partners of an organization.

Losses

Financial reductions or negative outcomes typically resulting from expenses surpassing revenues or due to the decrease in value of an asset.