If an Individual Forms a Sole Proprietorship, Which Nontax Factor

question 79

Multiple Choice

If an individual forms a sole proprietorship, which nontax factor will be of greatest benefit to the sole proprietor?

• A)Liability protection.
• B)Legal flexibility in defining rights and responsibilities of owners.
• C)Facilitation of initial public offerings.
• D)Minimal time and cost to organize.

Identify the legal requirements and effects of options and firm offers.

Understand how courts determine whether a proposal qualifies as an offer.

Recognize the effects of actions such as rejection, revocation, and acceptance on the viability of an offer.

Comprehend the special considerations in online contracts and the effect of different types of agreements.

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Definitions:

Recessive Alleles

Gene variants that can be masked by dominant alleles and are expressed only when two copies are present.

Dominant Alleles

Dominant alleles are versions of genes that produce a dominant trait which will express itself in the phenotype, even when only one copy is present.

Monozygotic Twins

Identical twins that originate from a single fertilized egg, splitting and developing into two embryos.

Dizygotic Twins

Also known as fraternal twins, are two siblings born at the same time as a result of two different eggs being fertilized by two different sperm cells, sharing 50% of their DNA.