Of the Following Forms of Business Organization, Which Have the Advantage

question 58

Multiple Choice

Of the following forms of business organization, which have the advantage of limited liability but no stockholders?

• A) proprietorships
• B) partnerships
• C) corporations
• D) limited partnerships

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Definitions:

Collective Bargaining

The process whereby union representatives and employers negotiate labor contracts pertaining to wages, hours, benefits, and working conditions.

Perfectly Competitive

A market structure characterized by many buyers and sellers, no barriers to entry or exit, and where all firms sell identical products, leading to price determination purely by supply and demand.

Exploitation

The act of treating someone unfairly by using their work or resources for personal or financial gain without proper compensation.

Nonunion Representation Plans

Workplace arrangements designed to represent employee interests without forming a union, often through employee committees or boards.