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Questions and Answers
Sole Proprietorships are business entities with a single owner or operator. What is the term for this type of business entity?
a) Sole Proprietorship
What is the term for a standardized unit of ownership in a business in which shareholders receive payments from the profits?
c) Share
What is the right or license granted to a business to market a company’s goods in a certain location called?
d) Franchise
What is the term for a legal form of business ownership where two or more people share management and profits?
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In which business structure does the owner have unlimited liability, bearing full legal responsibility for all business debts?
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What is the term for a partner providing capital but being responsible for business debts up to the amount they have invested?
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What is the right or license granted to a business to market a company’s goods in a certain location called?
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In which business structure does the owner have unlimited liability, bearing full legal responsibility for all business debts?
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What is the term for a legal form of business ownership where two or more people share management and profits?
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What should business partners establish to define and set their rights as well as income received from the partnership?
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