Which of the Following Forms of Business Organization Limits the Liability

question 118

Multiple Choice

Which of the following forms of business organization limits the liability of owners?

• A) sole proprietorship
• B) general partnership
• C) corporation
• D) two person partnership

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Definitions:

Price Ceiling

A government-imposed limit on how high a price can be charged on a product or service.

Equilibrium Price

A price point where the supply of goods meets the demand for those goods in the market.

Quantity Supplied

The total amount of a good or service that producers are willing and able to sell at a specific price over a certain period of time.

Usury Laws

Regulations governing the maximum interest rate that can be charged on loans, intended to protect borrowers from excessively high rates.