All of the Following Are Disadvantages That Sean Should Consider

question 129

Multiple Choice

All of the following are disadvantages that Sean should consider before entering a partnership agreement with his cousin except

• A) lack of continuity.
• B) effects of disagreements with his cousin.
• C) the inability to get out the money he invests.
• D) unlimited liability.
• E) double taxation.

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Definitions:

Prices

The price tag anticipated, mandatory, or surrendered in settlement for an item.

Drug Interdiction

The policy or practice of preventing illegal drugs from being trafficked and distributed.

Inelastic

Describes a situation where the demand or supply for a good or service is relatively unresponsive to changes in price, meaning that price variations have little effect on the quantity demanded or supplied.

Elastic Demand

A situation where the demand for a product is sensitive to price changes, with relatively large changes in demand for small changes in price.