If the Division of Profits and Losses Is Not Spelled

question 60

Multiple Choice

If the division of profits and losses is not spelled out in a formal agreement between the owners, they will be split evenly amongst the owners.In which form of organization is this true?

• A)Corporation
• B)Partnership
• C)Sole proprietorship
• D)All of these

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Definitions:

Social Allergy Effect

A phenomenon where repeated exposure to certain behaviors or habits of others leads to an increasingly negative and irritated reaction over time.

Irritated

Feeling annoyance or discomfort, often due to a specific cause or situation.

Partners' Annoying Habits

Behaviors or actions by a partner in a relationship that are irritating or bothersome to the other person.

Propinquity Effect

The tendency for people to form friendships or romantic relationships with those whom they encounter often, making physical proximity a factor in relationship formation.