A Business Entity Formed by Two or More Individuals Who

question 18

Multiple Choice

A business entity formed by two or more individuals who each have unlimited liability for business debts is called a

• A)corporation.
• B)sole proprietorship.
• C)general partnership.
• D)limited partnership.
• E)limited liability company.

---

Definitions:

Expelled

The act of being officially removed or barred from an institution or organization.

Overbilling

The practice of charging more than the agreed price or more than the services or goods provided are worth, often considered fraudulent or unethical.

Peanut Allergy

An allergic reaction that occurs when the body's immune system mistakenly identifies peanut proteins as harmful, leading to potentially severe symptoms.

Sole Proprietorship

A business structure where a single individual owns and operates the business, responsible for all debts and legal actions against the business.