Scenario - Holly and Trent

question 50

Multiple Choice

Scenario - Holly and Trent
While many others dreamed about owning their own business, Holly Gabrel decided to do something about it. Holly knew that being self-employed required long hours and hard work, but with the help of her husband, Trent, Holly was positive that the hours and the work would be rewarded. First, she and Trent developed a new concept in sunglasses that could be used by athletes better than the sunglasses now on the market. Holly and Trent obtained a patent on their invention, and began production and marketing.
-If the business is legally Holly's, then the business form would be:

• A) proprietorship.
• B) partnership.
• C) corporation.
• D) chapter S42.5.
• E) none of these.

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Definitions:

Auto and Steel Industries

Sectors of the economy known for their historical significance in American manufacturing and heavy unionization, often associated with large-scale industrial labor.

Intimidation

The act of deliberately making someone afraid in order to influence their behavior or decisions.

CIO

Short for Congress of Industrial Organizations, it is a federation of unions that organized workers in industrial unions in the United States and Canada from 1935 to 1955.

AFL

American Federation of Labor, a historic national federation of labor unions in the United States, which merged with the Congress of Industrial Organizations in 1955.