"John's Designs" Is an Architectural Firm Owned by Four Investors

question 103

Multiple Choice

"John's Designs" is an architectural firm owned by four investors.John is the only one who handles the day-to-day business management of the firm,though the profits are shared equally with the losses being restricted to the amount invested by each.This is an example of a ________.

• A)limited partnership
• B)general partnership
• C)corporation
• D)limited liability corporation
• E)sole proprietorship

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Definitions:

Pension Plan

A financial arrangement designed to provide individuals with an income during retirement, usually through contributions made during their working years.

Seniority System

A workplace policy where decisions regarding promotions, layoffs, and other job-related matters are made based on an employee's length of service.

Self-motivated

Having the inner drive or initiative to pursue goals or tasks without external encouragement or pressure.

Challenges

Difficulties that need to be overcome or problems that require solutions, often stimulating personal growth or improvement.