Business Basics
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Questions and Answers

Which type of business is owned and operated by a single natural person?

  • Corporation
  • Sole proprietorship (correct)
  • Partnership
  • Limited liability company

    • Which of the following is NOT a type of business mentioned in the text?

  • Non-profit organization (correct)
  • Limited liability company
  • Partnership
  • Sole proprietorship

    • Which type of business is formed when two or more people join forces to conduct business?

  • Corporation
  • Sole proprietorship
  • Partnership (correct)
  • Limited liability company

    • Which type of business is referred to as a group of people acting together as a single entity?

    <p>Corporation (C)</p> Signup and view all the answers

    What are owners of a corporation commonly referred to as?

    <p>Shareholders (A)</p> Signup and view all the answers

    Which one of the following best defines logic?

    <p>A science that studies correct reasoning (C)</p> Signup and view all the answers

    What is the foundation of a logical argument?

    <p>Proposition (D)</p> Signup and view all the answers

    What are premises in a logical argument?

    <p>Propositions (D)</p> Signup and view all the answers

    What is an inference in the logic process?

    <p>A conclusion drawn from a premise (C)</p> Signup and view all the answers

    What is business logic?

    <p>Custom rules or algorithms that handle information exchange between a database and user interface (B)</p> Signup and view all the answers

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