The Proprietorship Form of Business Organization

question 27

Multiple Choice

The proprietorship form of business organization

• A) must have at least three owners in most states.
• B) requires that the owner be personally liable for all debts of the business.
• C) combines the records of the business with the personal records of the owner.
• D) is characterized by a legal distinction between the business as an economic unit and the owner.

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Definitions:

Scripts

Cognitive structures that contain knowledge about the sequence of events and behaviors that are appropriate in specific situations.

Stage of Life

Phases through which an individual passes during their lifetime, each with specific and unique challenges and milestones.

Needs

Needs are essential requirements or desires that drive behavior and motivate actions to achieve satisfaction or fulfillment.

Consciousness

The state or quality of awareness of an individual's thoughts, feelings, sensations, and surroundings; a fundamental aspect of human experience.