When a Business Is Owned and Operated by a Single

question 361

Multiple Choice

When a business is owned and operated by a single individual who receives all of the profits and is responsible for all debts, it is known as a

• A) partnership.
• B) conglomerate.
• C) corporation.
• D) proprietorship.

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Definitions:

Social Identity Theory

A psychological framework suggesting that individuals derive part of their identity and self-esteem from the social groups to which they belong.

Groupthink

A phenomenon where the desire for harmony in a decision-making group leads to an irrational or dysfunctional decision-making outcome.

Stereotyping

involves assigning fixed and oversimplified beliefs or attributes to individuals based on their membership in a particular group, often leading to prejudice and discrimination.

Accurate Information

Data or facts that are correct, precise, and free from errors or distortions.