In General,all Forms of Business Organization Can Be Categorized Based

question 32

Multiple Choice

In general,all forms of business organization can be categorized based on the owners' responsibilities for the organization's liabilities,and _____.

• A) how the business is taxed
• B) how the business is financed
• C) the business's target market
• D) whether it is a manufacturing or service organization

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Definitions:

British Pound

The official currency of the United Kingdom, also known as GBP (Great British Pound).

Spot Price

The current market price at which a particular asset, like a commodity or currency, can be bought or sold for immediate delivery.

Wheat Future

A standardized contract traded on futures exchanges to buy or sell a specific amount of wheat at a predetermined price on a specified future date.

Profit

Profit refers to the financial gain that is realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.