A Firm with a Single Owner Who Has Unlimited Liability

question 52

Multiple Choice

A firm with a single owner who has unlimited liability is

• A)a corporation.
• B)a sole proprietorship.
• C)a limited partnership.
• D)an unlimited partnership.
• E)a cooperative.

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Definitions:

Conventional

Pertaining to commonly accepted standards or methods, often in contrast to innovative or unconventional approaches.

Moral Development

The process through which individuals acquire the standards of right and wrong that guide behavior, rooted in cognitive development.

Moral Reasoning

The process through which individuals make decisions about what is right or wrong based on personal, philosophical, or cultural beliefs.