Which Type of Business Organization Is Characterized by Unlimited Liability

question 44

Multiple Choice

Which type of business organization is characterized by unlimited liability and limited life?

• A) Proprietorship
• B) Partnership
• C) Corporation
• D) Proprietorship and partnership

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Definitions:

Desired Behavior

The specific actions or reactions that are sought after or encouraged within a given context or environment.

Contingency of Reinforcement

A principle that posits the effectiveness of a reward or punishment is dependent on the specific situation or context.

Punishment

The imposition of a penalty as retribution for an offense or undesirable behavior.

Negative Reinforcement

A behavioral technique in which the removal of an undesirable outcome or stimulus increases the likelihood of a behavior being repeated.