The Four Common Forms of Business Ownership Include Sole Proprietorship,partnership,limited

question 247

True/False

The four common forms of business ownership include sole proprietorship,partnership,limited liability company (LLC),and corporation.

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Definitions:

Adjudicated Insane

refers to the legal determination that an individual is mentally incapable of managing their own affairs or standing trial due to mental illness.

Void

A contract or legal agreement that is null and has no legal force or effect.

Appointed Guardian

A person legally designated to manage the personal and/or financial affairs of another individual who is unable to do so.

Intoxicated Persons

Individuals whose normal capacity to act or make decisions is significantly impaired due to the consumption of alcohol or drugs.