The Key to Choosing the Right Form of Ownership Is

question 14

Multiple Choice

The key to choosing the right form of ownership is ________.

• A)envisioning where your business will be in 10 years
• B)understanding the characteristics of each form and knowing how they affect your business and personal circumstances
• C)forming either an S corporation or a limited liability company since they are the only forms that offer owners liability protection
• D)irrelevant since choosing a form of ownership is merely a technicality and has little impact on the business and its owner(s)

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Definitions:

Polite Manners

Social behaviors that are considered respectful and considerate toward others, often prescribed by cultural norms.

Performance Appraisal

The systematic evaluation of employees' job performance and productivity to understand their abilities for future growth and development.

Productive

Capable of producing a large amount of work, goods, or yielding positive results efficiently.

Customers' Needs

A concept in marketing and business referring to the desires or requirements that consumers expect to be fulfilled by products or services.