What Type of Business Has Two or More Owners Who

question 72

Multiple Choice

What type of business has two or more owners who share in the operation of the firm and are financially responsible for its debts?

• A) Corporation
• B) Partnership
• C) Cooperative
• D) Conglomerate
• E) Nonprofit

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Definitions:

Normal Cost

The typical or standard cost of producing a good or service, considering direct labor, materials, and overhead.

Critical Path

The longest sequence of activities in a project, which determines the shortest time possible to complete the project.

Slack

A collaboration tool that allows teams to communicate in real-time through channels dedicated to specific topics, projects, or departments.

Predecessors

Tasks or activities that need to be completed before a subsequent task or activity can begin in project management and planning.