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Plans Are Fixed and Should Never Be Altered

question 100

True/False

Plans are fixed and should never be altered.


Definitions:

Sole Proprietorship

A business structure where a single individual owns, manages, and is personally responsible for all aspects of the business, including liabilities.

Liability

A legal obligation or debt that an entity is required to pay to another.

Financial Capital

Economic resources measured in terms of money used by entrepreneurs and businesses to buy what they need to make their products or to provide their services.

Profit Rate

The ratio of net profits to total revenues of a business, indicating its efficiency at generating profit.

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