Which of the Following Forms of Business Organizations Protect the Personal

question 62

Multiple Choice

Which of the following forms of business organizations protect the personal assets of the owners from creditors of the business?

• A)proprietorship
• B)partnership
• C)corporation
• D)corporation and partnership

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Definitions:

Indifference Map

A graphical representation of different combinations of goods between which a consumer is indifferent, showing levels of utility.

Budget Line

A budget line represents the combinations of two goods that a consumer can purchase with a specific budget, given the prices of those goods.

Utility Maximization

The process by which individuals choose consumption bundles that maximize their overall satisfaction or utility, subject to their budget constraints.

Indifference Map

A graphical representation that shows different bundles of goods between which a consumer is indifferent, reflecting their preferences and consumption choices.