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:

Minimum-Wage Laws

Legislation that sets the lowest hourly wage rate that an employer can legally pay their workers.

In-Kind Transfers

Non-monetary transfers of goods or services provided by governments to individuals as part of social assistance programs.

Elasticity of Labor Demand

A measure of how sensitive the quantity of labor demanded by employers is to a change in the wage rate.

Minimum-Wage Laws

Legislation that sets the lowest hourly wage that employers can legally pay their workers, intended to protect workers from exploitation.