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Exhibit 2-4
A survey of 400 college seniors resulted in the following crosstabulation regarding their undergraduate major and whether or not they plan to go to graduate school.
-Refer to Exhibit 2-4. Of those students who are majoring in business, what percentage plans to go to graduate school?
Limited Liability
A legal structure for businesses that limits the personal financial responsibility of the owners for the company's debts and obligations.
Externalities
Financial repercussions impacting parties who are not directly involved, which may manifest as either beneficial or detrimental outcomes.
Sole Proprietorship
A business owned and operated by one person, where there is no legal distinction between the owner and the business entity.
High-Coupon Bonds
Bonds that offer interest rates significantly above the market average to attract investors despite potential risks.
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