When the Owner of a Sole Proprietorship Dies, What Becomes

question 166

Multiple Choice

When the owner of a sole proprietorship dies, what becomes of the business?

• A)The employees take over the business.
• B)It ceases to exist unless the heirs take it over or sell it.
• C)It is automatically auctioned to the highest bidder.
• D)It ceases to exist, and no one may legally take it over.
• E)It may continue existing but only under a new name.Samantha's Dilemma

Understand the ethical principles and core values promoted by the Josephson Institute for Ethics.

Grasp the concept of solicitor-client privilege and the decision-making process in the lawyer-client relationship.

Understand the concept and implications of predatory pricing in market dynamics.

Comprehend the mechanics and legality of tacit and explicit collusion among firms.

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Definitions:

Power Pivot

An Excel feature that allows users to perform powerful data analysis and create sophisticated data models, integrating data from various sources.

PivotTable

A data summarization tool found in data visualization programs like Excel that allows users to reorganize and summarize selected columns and rows of data in a spreadsheet.

PV Function

In financial analysis, a function used to calculate the Present Value of a series of future payments or receivables, discounted at a given interest rate.

Investment

The allocation of resources, usually money, in the expectation of generating an income or profit.