A firm owned by two or more persons who each bear the responsibilities and unlimited liabilities of the firm is a(n)
A) corporation
B) sole proprietorship
C) organization that is disallowed under current IRS rules
D) partnership
E) multinational
Correct Answer:
Verified
Q105: What type of business is most likely
Q106: Unlimited liability means
A) a firm is always
Q107: What characteristic is shared by both sole
Q108: When compared to a sole proprietorship, a
Q109: In a partnership, decisions made and liabilities
Q111: A firm that exists as a separate
Q112: The owners of a corporation are
A) stockholders
B)
Q113: The first step in forming a corporation
Q114: A share of stock represents a claim
Q115: _ elect the firm's board of directors,
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