Smiley Is Heavily Involved in the Management of a Certain

question 9

Multiple Choice

Smiley is heavily involved in the management of a certain business.If Smiley dies,under which of the following circumstances would the business entity be considered legally dissolved as a result of Smiley's death?

• A)If the business is a corporation.
• B)If the business is a partnership and Smiley is a partner in it.
• C)If the business is either a partnership (and Smiley is a partner in it)or a close corporation.
• D)If the business is a Subchapter S corporation.

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Definitions:

Excessive Growth

Rapid expansion of an economy or a sector within an economy, often leading to concerns about sustainability and inflation.

Keynesian Economists

Economists who believe in the economic theories of John Maynard Keynes, emphasizing the role of government intervention in the economy.

Private Sector

The private sector encompasses businesses and activities not owned or directly managed by the government.

Supply-Side Economists

Economists who believe that reducing taxes and decreasing regulation will stimulate economic growth by encouraging investment, production, and employment.