Jenna's Objective for Her Business Is to Attain High Growth

question 75

Multiple Choice

Jenna's objective for her business is to attain high growth and profits, which is an example of a(n) ____.

• A)small business
• B)joint venture
• C)entrepreneurial venture
• D)skunkworks
• E)business incubator

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Definitions:

Mutual Agency

A legal principle in partnerships where each partner has the authority to act on behalf of, and bind, the partnership in contractual agreements.

Unlimited Liability

Partners may be personally liable for debts of the partnership.

Limited Risk

Financial exposure that is knowingly restricted or minimized in investments or business operations.

Articles of Partnership

A legal document that specifies the rights, duties, and obligations of each partner participating in a partnership business.