Which of the Following Statements About Organizational Forms of a Business

question 108

Multiple Choice

Which of the following statements about organizational forms of a business is FALSE?

• A) In a sole proprietorship form of business or in a partnership form, the owner(s) are personally responsible for the debts of the business.
• B) The partnership agreement states how profits are to be shared between partners and what happens when a new partner is to be admitted or an existing partner is retiring.
• C) A corporation is a separate entity from both a legal and accounting perspective.
• D) The owners of a corporation are legally responsible for the corporation's debts and taxes. The owners of a corporation are not responsible for the debts and taxes of the business.

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Definitions:

Neurons

Specialized cells in the nervous system that transmit information to other nerve cells, muscle, or gland cells, through electrical and chemical signals.

Ghrelin

A hormone produced in the stomach that stimulates appetite, promoting the feeling of hunger.

CCK

CCK, or Cholecystokinin, is a hormone and neurotransmitter involved in digestion and inducing feelings of satiety, released by the intestines after eating.

Hunger

The physical sensation or condition caused by the need or desire to eat food.