Although Small Business Administration (SBA) Standards Allow Up to 500

question 70

Multiple Choice

Although Small Business Administration (SBA) standards allow up to 500 employees in some types of businesses, the most common limit is ______.

• A) 10
• B) 50
• C) 100
• D) 200

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Definitions:

Limited Liability Partnership

A partnership in which some or all partners have limited liabilities, protecting personal assets from business debts and claims.

Negligently Audits

Involves performing an audit with a lack of proper care or attention, potentially leading to inaccurate or incomplete results.

Personal Assets

Individual-owned resources of economic value such as cash, real estate, investments, and personal property.

Vicariously Liable

Legal responsibility assigned to one party for the actions of another, based on a special relationship between the two.