BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bernice owns her own local gift shop. She acquired the necessary loans to open it, assumes all the financial risk herself, and makes all the decisions. It sounds like Bernice’s business is a/an
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partnership
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franchise
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corporation
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sole proprietorship
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Explanation:
Detailed explanation-1: -A limited liability company or LLC is a hybrid business structure that provides the limited legal liability of a corporation and the operational flexibility of a partnership or sole proprietorship.
Detailed explanation-2: -In a duopoly, two competing businesses control the majority of the market sector for a particular product or service they provide. For example, Coca-Cola and Pepsi represent a duopoly because the two firms control almost the entire market for cola beverages.
There is 1 question to complete.