A_________ Is an Association of Two or More Persons to Carry

question 86

Multiple Choice

A_________ is an association of two or more persons to carry on, as co-owners, a business for profit, where each owner owns a share of the business and is personally liable for the firm's profits or losses.

• A) sole proprietorship
• B) professional corporation
• C) partnership
• D) business corporation

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Definitions:

Tie-In Sales

A sales tactic where the purchase of one product is linked to the purchase of another product, often as a bundle or prerequisite.

Clayton Act

A U.S. law enacted in 1914 aimed at promoting competition among businesses by prohibiting certain monopolistic practices.

Substantially Lessens

A phrase often used in legal contexts, indicating a significant reduction or diminishment in value, quality, or functionality.

Reciprocity

A mutual exchange of privileges or services between parties where each benefits.