How do the owners of a partnership relate to the business?
A) The owners and the business are separate legal entities.
B) The owners and the business are not separate legal entities.
C) The assets of the owners are considered separate from the asset of the business.
D) None of these describe the legal relationship of the owners to the business.
B
You might also like to view...
GDP excludes important factors that affect people's well-being, such as the value of:
A. leisure time. B. goods produced domestically but sold to foreigners. C. services purchased by households. D. government purchases of goods and services.
The marginal cost curves slope upward because of the principle of
A) decreasing marginal benefits. B) increasing marginal cost. C) increasing marginal benefits. D) decreasing marginal cost. E) decreasing total benefit.
What are the two key features of perfectly competitive markets in the Classical Model?
What will be an ideal response?
Exchange is necessary in an economy if: a. output is to be produced
b. output is to be consumed. c. individuals are self-sufficient. d. families are self-sufficient. e. labor is specialized.