The Dominant Form of Organization with Respect to Revenues and Net

question 37

Multiple Choice

The dominant form of organization with respect to revenues and net income is the

• A) sole proprietorship.
• B) corporation.
• C) limited partnership.
• D) partnership.

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Definitions:

Foreign Limited Liability Company

A business entity that is organized in one jurisdiction but is registered to do business in another jurisdiction, offering limited liability protection to its owners.

Law Application

involves the process of applying legal principles and rules to specific situations and cases.

Formed State

A term referring to a specific point in time when a state (in the context of a nation or territory) is officially established or constituted.

Cooperative

A business organization owned and operated by a group of individuals for their mutual benefit where members share in the decision-making process and profits.