Which of the Following Statements Best Describes Firm Organization

question 31

Multiple Choice

Which of the following statements best describes firm organization?

• A)One of the disadvantages of a sole proprietorship is that the proprietor is exposed to unlimited liability.
• B)It is generally easier to transfer one's ownership interest in a partnership than in a corporation.
• C)One of the advantages of the corporate form of organization is that it avoids double taxation.
• D)One of the advantages of a corporation from a social standpoint is that every shareholder has equal voting rights, i.e., "one person, one vote."

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Definitions:

Identity Formation

The development of a distinct personality or self-concept, a critical part of an individual's personality development, often associated with adolescence.

Identity Achievement

Refers to the stage in adolescent development where individuals have explored various options and commitments and have made definite personal, occupational, and ideological choices.

Foreclosure

The legal process by which a lender takes control of a property, evicts the homeowner, and sells the home after a homeowner is unable to make full principal and interest payments on their mortgage.

Sexual Agency

The capacity and empowerment to make autonomous decisions regarding one's own sexual activity, desires, and relationships, including the ability to consent or refuse sexual activities.