A Business Organisation That Is Similar to a Sole Proprietorship

question 41

Multiple Choice

A business organisation that is similar to a sole proprietorship but has two or more owners is called a:

• A)limited liability company
• B)corporation
• C)dual company
• D)partnership
• E)joint stock company

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Definitions:

Time Deposits

Bank deposits that cannot be withdrawn for a certain term or period of time without incurring a penalty.

Large Denomination

Refers to currency or financial instruments issued in large amounts, often used for major transactions or investments.

Bank Failures

Occurrences where a bank is unable to meet its obligations to its depositors or other creditors because it has become insolvent or too illiquid to meet its liabilities.

Commercial Banks

Financial institutions that offer a wide range of services, including deposits, loans, and other financial products to businesses and individuals.