The Following Are Disadvantages of Which Form of Business Ownership

question 46

Multiple Choice

The following are disadvantages of which form of business ownership: unlimited liability, management conflict potential, and less independence?

• A) sole proprietorships
• B) partnerships
• C) corporations
• D) mergers

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Definitions:

Legal Limits

Statutorily defined boundaries within which individuals or entities may operate without facing legal penalties, often relating to speed, age, or intoxication levels.

Authoritarian

A political system in which a single entity or a small group possesses significant control over government and restricts personal freedoms.

Totalitarian

Describes a political system in which the state holds total authority over the society and seeks to control all aspects of public and private life wherever possible.

Constitutional Government

A system of government where the powers and limits of the government are defined and regulated by a constitution.