A Legal Form of Business Organization That Is Easily Established

question 26

Multiple Choice

A legal form of business organization that is easily established and yet has improved opportunities for greater financial resources and specialized know-how without being subject to double taxation of its income is the

• A) corporation.
• B) cartel.
• C) simple proprietorship.
• D) consortium.
• E) partnership.

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Definitions:

Status

pertains to the relative social, professional, or other standing of someone or something.

Groupthink

A psychological phenomenon within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Group Members

Individuals who are part of a specific collection or assembly, sharing common goals, interests, or purposes within the group.

Confederates

Individuals who are part of an experiment but pretend to be participants, aiding in the research without the real participants' knowledge.