Which of the Following Would Be Classified as the Standard

question 53

Multiple Choice

Which of the following would be classified as the standard forms of business structures available to entrepreneurs to facilitate creation of a for-profit business enterprise?

• A) sole owner, proprietor, partnership
• B) sole proprietor, partnership, corporation
• C) sole partnership, proprietor, corporation
• D) sole owner, proprietor, corporation

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Definitions:

Bureaucracies

Organizational structures that manage large-scale public and private operations, characterized by a hierarchical arrangement, a division of labor, and a set of formal rules and procedures.

Formal Organization

An organization structured with fixed rules and regulations, clearly defined roles and responsibilities, and a hierarchical authority system.

Reference Group

A group that individuals compare themselves to for the purpose of evaluating their behaviors, attitudes, and norms.

Imagined Community

A concept describing how members of a social group or nation perceive themselves as part of a larger community through shared symbols, languages, and media, despite not knowing all members personally.