The Partnership Form of Business Organization

question 221

Multiple Choice

The partnership form of business organization

• A) is a separate legal entity.
• B) is a common form of organization for service-type businesses.
• C) enjoys an unlimited life.
• D) has limited liability.

---

Definitions:

Marginal Utility

The extra pleasure or advantage gained from using an additional unit of a product or service.

Dozen Oysters

A quantity of twelve oysters, often used as a standard unit of sale in seafood markets.

Total Utility

The total satisfaction received from consuming a particular amount of goods or services.

Beers

Alcoholic beverages made from yeast-fermented malt flavored with hops.