If the Owner of a Sole Proprietorship Retires or Dies,the

question 84

True/False

If the owner of a sole proprietorship retires or dies,the owner's heirs may take over the business and either sell it or continue to operate it.

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Definitions:

Inward Shift

A movement towards the origin of a supply or demand curve, indicating a decrease in supply or demand.

Production Possibility Frontier

The production possibility frontier (PPF) is a curve showing the maximum attainable combinations of two products that can be produced with available resources and technology.

Straight Line

The shortest path between two points, used in both geometric figures and in context like depreciation methods in accounting.

Opportunity Cost

The forfeit of not opting for the following most advantageous option when a decision is reached.