Ira Is Deeply Involved in the Management of a Certain

question 38

Multiple Choice

Ira is deeply involved in the management of a certain business. If Ira dies, the business entity would be considered legally dissolved as a result of Ira's death if:

• A) she was a shareholder of a corporation.
• B) the business is a partnership and Ira is a partner in it.
• C) the business is a corporation.
• D) the business is a Subchapter S corporation.

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Definitions:

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower opportunity cost than others, leading to more efficient trade patterns.

Specialize

To specialize means focusing on a narrow area of knowledge or skill within a wider field, aiming to become an expert or highly skilled in that specific area.

Opportunity Cost

Overlooking potential gains available from different alternatives by settling on one choice.

Muffin

A small, baked good often sweetened and sometimes containing fruits, nuts, or chocolate, typically enjoyed as a snack or quick breakfast.