Clara and Sandra Collaborate to Open a Cafe

question 127

Multiple Choice

Clara and Sandra collaborate to open a cafe. They come to an arrangement wherein Sandra manages the cafe from Monday to Wednesday, Clara manages it from Thursday to Saturday, and both jointly manage it on Sunday. Both Clara and Sandra share the profits of the business equally while facing a personal liability for any debts or losses that the cafe may incur. In this scenario, Clara and Sandra most likely _____.

• A) own a corporation
• B) have a general partnership
• C) have a limited partnership
• D) own a limited liability company

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Definitions:

Heuristics

Mental shortcuts or rules of thumb that ease the cognitive load of making a decision.

Decision Making

The process of identifying and choosing alternatives based on the values and preferences of the decision-maker.

Shelf-space

The amount of area or space available on shelves in a store allocated to display products.

Cereals Marketers

Professionals involved in promoting and selling grains such as wheat, maize, oats, and barley.