Which Statement Regarding American Businesses Is TRUE

question 205

Multiple Choice

Which statement regarding American businesses is TRUE?

• A) Most American businesses are corporations.
• B) Most American businesses are partnerships.
• C) Corporations sell most of their products and services in the United States.
• D) Sole proprietorships sell most of their products and services in the United States.

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Definitions:

Uniform Simultaneous Death Act

A legal guideline used to determine the distribution of property when two or more individuals die at the same time with no clear evidence of who died first.

Insurance Proceeds

The money that an insurance company pays out to a policyholder in the event of a covered loss or claim.

Intestate Succession

The process by which property is distributed by law when a person dies without a valid will, determining heirs based on their relationship to the deceased.

Testamentary Trust

A trust that is created by a will.