A Firm That Has Two or More Owners Who Share

question 82

Multiple Choice

A firm that has two or more owners who share decision-making power as well as the firm's profits is called

• A)a single proprietorship.
• B)a partnership.
• C)a corporation.
• D)a non-profit organization.
• E)a joint-stock company.

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Definitions:

Cost-benefit Analysis

A systematic approach to estimate the strengths and weaknesses of alternatives, used to determine the best option in terms of benefits outweighing costs.

Duty-based Ethics

An ethical theory that emphasizes duties or moral rules as the basis for judging the ethicality of actions.

Corporate Social Responsibility

A business approach that involves participating in initiatives that benefit society, including ethical, environmental, and philanthropic efforts.

Corporate Social Responsibility

A business model that incorporates self-regulation into a company's business model to positively impact society socially, economically, and environmentally.