All but One of the Following Organizational Forms Have Limited

question 19

Multiple Choice

All but one of the following organizational forms have limited liability. This exception is the:

• A) sole proprietorship.
• B) corporation.
• C) subchapter S corporation.
• D) limited partnership.

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Definitions:

Patent

An exclusive right granted for an invention, which allows the patent owner to exclude others from making, using, or selling the invention for a certain period of time.

Non-controlling Interest

Equity interest in a subsidiary not held by the parent company, representing a share of the subsidiary’s net assets and profits.

Voting Shares

Shares that give the shareholder the right to vote on company matters, such as elections for the board of directors; instrumental in controlling the company.

Open Market

A market with no barriers to free market activity, where any buyer or seller can trade freely.