A Firm Where Owners Are Usually Not Managers and Not

question 44

Multiple Choice

A firm where owners are usually not managers and not personally liable for the firm's debts is a

• A)sole proprietorship.
• B)general partnership.
• C)corporation.
• D)None of above.

---

Definitions:

Seizes

To take hold of suddenly and forcibly; in a legal context, it can mean to take legal possession of something.

Rental Agreement

A contract between a landlord and tenant that outlines the terms and conditions of the property rental.

Duty

A moral or legal obligation to ensure the well-being or safety of others, or to adhere to a standard of conduct.

Careful

Careful describes the act of being cautious, meticulous, or taking pains to avoid mistakes or accidents in one's actions or decisions.