A Business Entity Formed by Two or More Individuals Who

question 7

Multiple Choice

A business entity formed by two or more individuals who each have unlimited liability for business debts is called a

• A)corporation.
• B)sole proprietorship.
• C)general partnership.
• D)limited partnership.
• E)limited liability company.

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Definitions:

Refurbish Goods

Products that have been restored to a like-new condition, often repaired and cleaned, for resale at a lower cost.

Omnichannel

An approach to sales that utilizes multiple channels to ensure a seamless shopping experience for customers, regardless of whether they are purchasing online through a mobile device, a laptop, or in a physical store.

Retail Store

A physical establishment that sells goods or services directly to consumers for their personal or household use.

Product-Design Process

A series of steps that businesses follow to develop, prototype, test, and finalize the design of a new product, focusing on meeting consumer needs and preferences.