A Sole Proprietorship Lasts for How Long If It Continues

question 3

Multiple Choice

A sole proprietorship lasts for how long if it continues to run unabated?

• A) For 100 years
• B) 10 years with an option to renew for another 10 years
• C) Till the death of the owner
• D) 30 years then the business has to be reformed

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Definitions:

Factor Analysis

A statistical method used to describe variability among observed, correlated variables in terms of a potentially lower number of unobserved variables called factors.

Justification of Effort

The tendency for individuals to attribute a greater value to an outcome they had to put effort into achieving or acquiring.

Affect Heuristic

The tendency to consult one’s emotions instead of estimating probabilities objectively.

Estimating Probabilities

The process of determining the likelihood of a given outcome or event occurring.