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The Only Type of Business That Faces Unlimited Liability Is

question 248

True/False

The only type of business that faces unlimited liability is a sole proprietorship.


Definitions:

Rationality

The quality or state of being reasonable, based on facts or reason, guiding behavior or beliefs by logic rather than emotion or tradition.

Formal Rationality

A decision-making process focused on efficiency, predictability, calculability, and dehumanization, often associated with bureaucratic organizations.

Industrial Era

A period in history characterized by significant technological advancements and the rise of industrial production from the late 18th to the early 20th century.

Bureaucracy

An organizational structure characterized by hierarchical authority, rigid division of labor, written rules, and impersonal relationships, primarily in governmental and large institutional settings.

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