Which of the Following Is a Valid Difference Between Sole

question 11

Multiple Choice

Which of the following is a valid difference between sole proprietorship and partnership?

• A)Partnerships require a written agreement while sole proprietorships do not.
• B)Partnerships require a state charter while sole proprietorships do not.
• C)Partnerships generate lower profits than sole proprietorships.
• D)Partnerships are characterized by unlimited liability,while sole proprietorships are not.
• E)Partnerships consist of two or more partners sharing the responsibility of the firm,while sole proprietorship consist of a single individual.

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Definitions:

Ethical Dilemma

A situation where a person faces a choice between two actions that are ethically challenging or conflict with moral imperatives.

Steal

The act of taking someone else's property without permission or legal right and with no intention of returning it.

Company

A legal entity formed by a group of individuals to engage in and operate a business commercial or industrial enterprise.

Basic Rights

Fundamental entitlements and freedoms that individuals are guaranteed by law or society, such as freedom of speech and right to privacy.