A Proprietorship Is

question 320

Multiple Choice

A proprietorship is

• A) a business with annual sales of less than $50,000 a year.
• B) a business owned by one individual that employs 10 or fewer workers, and has been in business less than 15 years.
• C) a business owned by one individual who receives the profits and is legally responsible for the debts of the firm.
• D) a form of business in which the stock of the company is closely held by members of one family.

Learn the importance of setting research objectives and developing a research plan.

Realize the value of collecting both primary and secondary data in market research.

Comprehend the feedback loop in the marketing research process for continuous improvement.

Understand the steps of the marketing research approach.

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Definitions:

Bad-News Adjustment Letter

A written communication typically from a business to a customer, addressing a complaint and explaining the resolution or adjustment made in response to an issue.

Goodwill

The intangible asset that represents the value of a company's brand, customer relationships, reputation, and other non-physical assets.

Language Errors

Mistakes made in the use of language, including grammar, syntax, spelling, and vocabulary inaccuracies.

Salutation Example

A specific instance or suggestion of how to begin a letter or email, such as "Dear" followed by the recipient's title and last name.