The legal responsibility for losses incurred by a proprietorship falls upon the
A) stockholders.
B) partners.
C) owner.
D) creditors.
C
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If an increase in the monetary base of $8 billion increases the quantity of money by $64 billion, then the money multiplier is equal to ________
A) $64 billion B) 8 C) $8 billion D) 1/8
Some economists criticize the Lorenz curve because it
A) includes too many things in measuring income, such as food stamps, housing aid, and other government programs. B) does not account for the effect of age on a family's income. C) measures unreported income earned in the underground economy. D) uses after-tax income when pre-tax income is more appropriate.
Why do individuals and businesses have to make decisions?
A. Because resources are scarce B. Because they want to avoid trade-offs C. Because government regulations require it D. Because it is the only way to increase income
According to the permanent income hypothesis, a temporary and relatively small increase in income would
A. cause an increase in consumption and saving by the same amount. B. cause a decrease in consumption and saving by the same amount. C. cause no change in consumption. D. cause a large increase in consumption.