Which of the Following Statements Is TRUE for a Proprietorship

question 113

Multiple Choice

Which of the following statements is TRUE for a proprietorship?

• A)Legally,a proprietorship is separate from the proprietor.
• B)For accounting purposes,a proprietorship is separate from the proprietor.
• C)The business records include the proprietor's personal finances.
• D)All statements are correct.

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Definitions:

General Environment

The broad external conditions that affect organizations, including economic, legal, and cultural factors.

Natural Environment Conditions

The physical and biological factors along with their chemical interactions that affect an ecosystem or geographic area.

Human Relations Conditions

The environmental and interpersonal factors that influence the dynamics, performance, and satisfaction of individuals within an organization.

Core Values

Fundamental beliefs or principles that are central to an organization's identity, guiding its actions, behaviors, and decision-making processes.