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Primary data are most often collected from a sample (a subset of a larger population). An important question researchers must ask is, "Must the sample be representative of the population?" The answer to this question leads the researcher to either of two possible types of samples. Name and describe each of the two sampling procedures. Give a specific example of a sample type for each procedure.
Legal Entity
An organization that has legal rights and obligations, including the ability to enter into contracts and own property, separate from its individual members.
Corporation
A legal entity formed by a group of individuals to conduct business or other activities, recognized as separate from its owners with its own rights and liabilities.
Personal Liability
The legal responsibility of an individual to settle his or her debts and obligations, potentially using personal assets.
General Partner
A member of a partnership who has unlimited liability and is actively involved in the management of the partnership.
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