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Case-Based Critical Thinking Question Tom has just started working as an intern for a local radio station. He is responsible for managing the request line and presenting request trends to management each month. He uses Microsoft PowerPoint 2010 to create his presentations. As he hovers over each choice, Tom sees his slide change automatically. What Tom is experiencing is called ____.
Sole Proprietorship
The simplest form of business organization, in which the owner is the business. The owner reports business income on his or her personal income tax return and is legally responsible for all debts and obligations incurred by the business.
Repayment Plan
An arrangement made to pay back a loan or debt in installments over a specified period.
Liquidation
The process of bringing a business to an end and distributing its assets to claimants.
Reorganization
Involves restructuring the legal, ownership, operational, or other structures of a company to make it more profitable or better organized for its present needs.
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