Caleb Brown Has Been the Sole Owner of a Bicycle

question 2

Multiple Choice

Caleb Brown has been the sole owner of a bicycle sales and repair shop for several years.Which of the following business types would limit Caleb's personal liability exposure to the entity's debts?

• A)partnership
• B)limited-liability company
• C)sole proprietorship
• D)limited-liability partnership

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Definitions:

Wider Spans

Refers to broader scopes of management control where supervisors oversee a larger number of subordinates or a wider range of activities.

Complex Tasks

Activities or jobs that require a high level of skill, expertise, and problem-solving abilities due to their intricate nature.

Team Effort

The collaborative work done by a group of people towards achieving a common goal or completing a task.

Operations Charts

Graphical representations used in business and engineering to outline the steps involved in a process or a system, highlighting interactions and workflows.