Scenario - Holly and Trent

question 50

Multiple Choice

Scenario - Holly and Trent
While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.
-If the business is legally Holly's, then the business form would be:

• A) proprietorship.
• B) partnership.
• C) corporation.
• D) chapter S42.5.
• E) none of these.

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Definitions:

Gaseous Products

The substances formed as a result of a chemical reaction that exist in the gas state at room temperature.

Thermal Energy

the internal energy present in a system due to its temperature.

Kinetic Energy

The energy possessed by an object due to its motion, proportional to its mass and the square of its velocity.

High Explosives

Substances that detonate, producing an explosion characterized by extremely rapid release of gas and heat, used in military and industrial applications.