Choice of ownership determines the degree to which each owner has personal liability for the firm's debts.
Answer the following statement true (T) or false (F)
True
Choice of ownership determines the degree to which each owner is personally liable for the firm's debts and the sources of funds available to the firm to finance future expansion. See 6-1: Business Ownership Options: The Big Four
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If managers of a company do not understand the behavior of its costs, they are likely to make poor decisions about the company's operations.
Answer the following statement true (T) or false (F)
________ of a service means that because it can't be separated from the provider, a service's quality can only be as good as that of the provider.
A. Tangibility B. Variability C. Intangibility D. Separability E. Perishability
Penalties for aiding or assisting in the preparation of false tax returns are limited to one penalty per taxpayer per tax year.
Answer the following statement true (T) or false (F)
The full and legal name of an organization is called the
A. trademark. B. legal title. C. organizational name. D. brand name. E. trade name.