An Entity That Is Organized According to State or Federal

question 177

Multiple Choice

An entity that is organized according to state or federal statutes and in which ownership is divided into shares of stock is a

• A) proprietorship
• B) corporation
• C) partnership
• D) governmental unit

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Definitions:

Economics

The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.

Regulatory Capture

A situation where regulatory agencies, created to act in the public's interest, instead advance the commercial or special concerns of the industry or sector they are supposed to regulate.

Environmental Protection

The practice of safeguarding the natural environment through conservation, regulation, and sustainable practices.

Consumer Safety

Refers to the efforts and policies that protect consumers from products, services, or practices that may cause harm.