Ralph Flores Owns and Operates His Own Business as a Sole

question 138

True/False

Ralph Flores owns and operates his own business as a sole proprietor.Recently his company was sued.The fact that Ralph has organized his business as a sole proprietorship means that Ralph is protected against any financial loss if the company loses the lawsuit.

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Definitions:

Larger Firms

Companies or enterprises that are significant in size, often having a large number of employees, operations, and market influence compared to smaller businesses.

Smaller Firms

Companies with a relatively small number of employees, market share, or revenue, often characterized by more flexible operations.

Horizontal Merger

A business consolidation that occurs between firms operating in the same industry or sector.

Conglomerate Company

A large corporation comprised of diverse subsidiaries or businesses across various industries, often with different operational focus.