The Oldest and Simplest Form of Business Organization Is

question 83

Multiple Choice

The oldest and simplest form of business organization is:

• A) joint venture
• B) partnership
• C) syndicate
• D) cooperative
• E) none of the other choices

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Definitions:

Basic Assumption

A fundamental belief or principle that is accepted as true without proof.

Commercial Impracticability

A defense in contract law that can release parties from their obligations if an unforeseen event makes the fulfillment of the contract unreasonably difficult or expensive.

Code

A system of principles or rules designed to regulate practices and conduct within a particular activity or sphere.

Restatement

A rephrasing or clarification of a statement or document, often used to clarify legal principles or statutes.