A Business Created as a Distinct Legal Entity and Treated

question 23

Multiple Choice

A business created as a distinct legal entity and treated as a legal "person" is called a(n) :

• A) corporation.
• B) sole proprietorship.
• C) general partnership.
• D) limited partnership.
• E) unlimited liability company.

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Definitions:

Purchase Decision

The stage in the buying process where a consumer finalizes their choice among products or services and proceeds with the transaction.

Consumer Purchase Decision

The method in which people choose, buy, utilize, and discard products and services.

Preference Development

The process by which consumers or buyers develop a liking or selection for certain products or brands over others through marketing, experience, or information gathering.

Alternative Evaluation

The process of assessing the advantages and disadvantages of different options before making a purchasing decision.