Joe Jackson Operates a Sole Proprietorship,but He Is in Poor

question 143

Multiple Choice

Joe Jackson operates a sole proprietorship,but he is in poor health and may be unable to continue running the business.If Joe becomes incapacitated,his business:

• A)Automatically continues under new management as a sole proprietorship.
• B)Automatically converts into a public corporation with stock sold to interested investors.
• C)Ceases to exist unless sold or taken over by Joe's heirs.
• D)Becomes the property of the most senior employee who wishes to continue operating the firm.

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Definitions:

Olfaction

The sense of smell, a chemical sensing system which is part of the sensory systems of animals and humans for detecting odors.

Audition

The sense of hearing, which involves the detection and interpretation of sound waves by the ears and brain.

Empiricist Philosophy

A philosophical approach emphasizing that knowledge is primarily derived from sensory experience.

John Locke

a 17th-century English philosopher known for his work in political philosophy and epistemology, often considered the father of liberalism.