An Entity Wherein One or More Owners May Elect to Actively

question 54

Multiple Choice

An entity wherein one or more owners may elect to actively manage the firm while other owners choose limited liability instead of management responsibility is called a:

• A) Corporation.
• B) General partnership.
• C) Limited liability corporation.
• D) Limited liability company.
• E) Limited partnership.

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Definitions:

Sensory Information

Data received by the senses (sight, hearing, touch, taste, and smell), which is then interpreted by the brain to form an understanding of the world.

Neurons

Within the nervous system, there are specialized cells responsible for carrying information to other neurons, muscles, or glandular cells.

Transmission

The act of passing something from one place, person, or thing to another, often referring to diseases, information, or mechanical power.

Integration Of Information

The process of combining data from different sources to generate a comprehensive understanding or to make decisions.