One Beneficial Characteristic of a Proprietorship Is

question 17

Multiple Choice

One beneficial characteristic of a proprietorship is:

• A) that the owner also manages the business.
• B) the owner appoints a board of directors to manage the business.
• C) the owner's interest is separate from the manager's interest.
• D) the owner does not need to be involved in the day-to-day operations of the business.

Understand the concept of social responsibility and its application in various contexts.

Grasp the principles of social exchange theory, including cost-benefit analysis in altruistic behaviors.

Identify and explain the dynamics of social traps and their societal impact.

Recognize the importance of the reciprocity norm in social interactions and its influence on behavior.

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Definitions:

Accounts Receivable

Money owed to a business by its customers for goods or services that have been delivered or used but not yet paid for.

Current Assets

Assets expected to be converted into cash, sold, or consumed within one year or the operating cycle, whichever is longer.

Net Income

The amount of revenue left over after deducting all expenses, taxes, and costs from total revenue.

Cost of Goods Sold

The direct costs attributable to the production of goods sold by a company, including materials and labor.