Which Form of Business Organization Is the Most Common in the United

question 50

Multiple Choice

Which form of business organization is the most common in the United States?

• A)sole proprietorship
• B)partnership
• C)corporation
• D)nonprofit organization
• E)S-corporation

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Definitions:

Breach

A violation or infringement of a law, obligation, standard, or contract.

Reasonable Expenses

These are costs deemed necessary and appropriate under certain circumstances, often considered when evaluating expense claims or budgets.

Lien

A claim that one has against the property of another.

Warranty of Title

A legal guarantee provided by a seller to a buyer that the seller has the right to sell the property in question and that it is not encumbered by any undisclosed liens or claims.