Table 21-1 -Refer to Table 21-1. Using the Table Above, What Is

question 15

Multiple Choice

Table 21-1

-Refer to Table 21-1. Using the table above, what is the approximate average annual growth rate from 2015 to 2018?

• A) 1%
• B) 1.5%
• C) 2%
• D) 3%

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Definitions:

Proprietorship

A business structure owned by a single individual where there's no legal distinction between the owner and the business entity.

Legal Dissolution

The process of legally dissolving a company, terminating its existence by the law.

New Partner

An individual who joins an existing partnership, contributing capital, and sharing in profits, losses, and liabilities.

Unlimited Liability

A legal structure where a business owner or partners are personally responsible for the debts of the business.