In Which of the Following Ownership Structures Do None of the Owners

question 95

Multiple Choice

In which of the following ownership structures do none of the owners have unlimited liability?

• A)Limited partnership
• B)Limited liability partnership
• C)Limited liability company
• D)General partnership

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Definitions:

Sales in Units

The total number of individual items sold by a company, as distinguished from sales measured in currency.

Indirect Costs

Expenses that are not directly traceable to a specific product or process, such as utilities or administrative salaries.

Contribution Margin

is the amount of revenue left after deducting variable costs, which can be used to cover fixed costs and contribute to profits.

Variable Cost Per Unit

The cost that changes with the level of output or sales, calculated on a per-unit basis.