​Maurice and Stanley Have Been Operating a Train Store Together

question 178

Multiple Choice

​Maurice and Stanley have been operating a train store together for two years. After a patron slipped on some water on the floor and was injured, they began to think about their personal liability and decided to change the business form to one that would give them the same ability to pass-through profits and shared ownership and control but with little government interference. They would most likely form a

• A)​limited-liability company.
• B)​corporation.
• C)​limited partnership
• D)​syndicate.

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Definitions:

Global Warming

The long-term increase in Earth's average surface temperature due to human activities, especially the emission of greenhouse gases, leading to significant climatic and environmental changes.

Carbon Dioxide

A colorless, odorless gas produced by burning carbon and organic compounds and by respiration. It is naturally present in the air and is absorbed by plants in photosynthesis.

Future Generations

Refers to the people who will live in the future, highlighting the importance of considering the long-term impacts of decisions made today.

Pollution Charges

Fees imposed on entities that pollute, acting as a financial disincentive for environmental pollution.