A Potential Drawback of Sole Proprietorships and Partnerships Is That

question 122

Multiple Choice

A potential drawback of sole proprietorships and partnerships is that the parties involved have:

• A) limited financial liability
• B) only corporate liability
• C) unlimited liability
• D) partial protection from creditors for business debts
• E) only corporate liability and partial protection from creditors for business debts

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Definitions:

Cognitive Dissonance

The psychological unease felt by someone who simultaneously possesses conflicting beliefs, ideas, or values.

Festinger

A psychologist known for developing the theory of cognitive dissonance, which describes the discomfort felt when holding conflicting beliefs or attitudes.

Cognitive Dissonance

A psychological discomfort experienced when holding two or more contradictory beliefs, ideals, or values.

Health Problems

Various physical or mental conditions that impair an individual's normal functioning or well-being.