A(n) _____ Is a Form of Business Ownership That Offers

question 43

Multiple Choice

A(n) _____ is a form of business ownership that offers both restricted responsibility to its owners and flexible tax treatment.

• A) limited liability company
• B) S corporation
• C) sole proprietorship
• D) quasi corporation

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Definitions:

Precommitments

Actions taken ahead of time that make it difficult for the future self to avoid doing what the present self desires. See time inconsistency and self-control problems.

Imposed Costs

Costs that are not chosen but are forced on a party, often by external factors or requirements such as government regulations, taxes, or fines.

Weight On Future

The importance or impact that future events or expectations have on current decision-making or attitudes.

Self-control Problems

Difficulties individuals face in resisting temptation or impulsivity, often impacting long-term goals for instant gratification.