A Business Owned by an Individual or a Small Group

question 77

Multiple Choice

A business owned by an individual or a small group is referred to as a(n) :

• A) corporate chain.
• B) conglomerate.
• C) concern.
• D) independent small business.

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Definitions:

Unearned Revenue

Revenue a business earns from selling products or services that have not yet been delivered to the buyer.

Tutoring Services

Educational support and personalized instruction provided by a tutor to help students improve their understanding and performance in specific subjects.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights.

Transactions

Business activities or events that involve the exchange of goods, services, money, or a promise of any of these.