Which Is an Advantage of a Sole Proprietorship Form of Business

question 110

Multiple Choice

Which is an advantage of a sole proprietorship form of business?

• A) There is limited personal risk.
• B) The business can continue indefinitely.
• C) The owner makes all the decisions.
• D) The business is legally separate from the owner.

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Definitions:

Bounded Rationality Model

A theory that suggests individuals make decisions based on the limited information available to them and within the confines of their cognitive limitations.

Evidence-Based Model

A framework for decision-making that involves integrating individual expertise with the best available external evidence from systematic research.

Bounded-Rationality Model

This model suggests that individuals make decisions based on limited information and cognitive processing abilities, leading to satisficing rather than optimal outcomes.

Mental Blinders

Cognitive limitations that prevent individuals from seeing alternatives or understanding different perspectives, akin to tunnel vision.