Julio Decides His Business Will Begin Staying Open Until 7

question 172

Multiple Choice

Julio decides his business will begin staying open until 7 p.m.instead of 6 p.m.The next day,the shop stays open until 7 p.m.This environment of flexibility to quickly change is characteristic of what form of business organization?

• A) Corporation
• B) Partnership
• C) S-corporation
• D) Flexible partnership
• E) Sole proprietorship

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Definitions:

Revenue

The income that an organization receives from its normal business activities, usually from the sale of goods and services.

Insurance

A contractual arrangement providing financial protection against losses or damages from specific risks, in exchange for premium payments.

Tolerance for Risk

is the degree to which an individual, investor, or organization is willing to endure uncertainty and potential losses in pursuit of potential gains.

Total Payments

The sum amount of money transferred from one party to another, often referring to the complete payables in transactions, loans, or settlements.