What Is the Primary Difference Between a Sole Proprietorship and a Partnership

question 12

Multiple Choice

What is the primary difference between a sole proprietorship and a partnership?

• A)Proprietorships have unlimited liability while partnerships have limited liability.
• B)Partnerships can issue stocks and bonds while proprietorships cannot.
• C)Partnerships have more owners than do proprietorships.
• D)There is no real difference between the two types of firms.

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Definitions:

Corporate Social Responsibility

A business model that incorporates self-regulation into a company's business model to ensure its activities have a positive impact on society, the environment, and the economy.

Classical Writings

Historical documents, literature, and texts that have significantly influenced fields such as philosophy, literature, and science, often serving as foundational material in their respective areas.

Public Good

A product or service that is made available to all members of society and whose use by one individual does not diminish availability for others.

Behavioural Approaches

Psychological perspectives focusing on observable behaviors and the environmental determinants of response patterns.