Caleb Brown Has Been the Sole Owner of a Bicycle

question 20

Multiple Choice

Caleb Brown has been the sole owner of a bicycle sales and repair shop for many years.Which of the following business types would best protect Caleb's personal assets from product liability exposure?

• A) Partnership
• B) Limited liability company
• C) Proprietorship
• D) Not-for-profit

Analyze and complete job-costing spreadsheets.

Prepare and understand the Schedule of Cost of Goods Sold.

Prepare income statements for manufacturing companies.

Prepare balance sheets for specific periods.

---

Definitions:

Narrative Job Analysis

A qualitative approach to job analysis that involves collecting detailed job-related stories to identify competencies and tasks.

U.S. Military

The armed forces of the United States, responsible for defending the country against external threats and ensuring national security, consisting of the Army, Navy, Air Force, Marine Corps, and Coast Guard.

Job-Analysis Process

The procedure for determining the duties and skill requirements of a job and the kind of person who should be hired for it.

Obtaining Information

The process of acquiring data or knowledge through various means such as research, observation, or questioning.