Businesses with unlimited life would be:Group of answer choicescompanies/corporationssole proprietorshipspartnershipssole proprietorships and partnerships
Question
Businesses with unlimited life would be:
- Group of answer choices
- companies/corporations
- sole proprietorships
- partnerships
- sole proprietorships and partnerships
Solution
The businesses with unlimited life would be companies/corporations.
Here's why:
-
Sole Proprietorships: These businesses do not have unlimited life. The business ends with the death of the owner or if the owner decides to sell or close the business.
-
Partnerships: These also do not have unlimited life. The business ends with the death of a partner, withdrawal of a partner or addition of a new partner unless there is an agreement in place that allows the business to continue.
-
Companies/Corporations: These businesses have unlimited life. They continue to exist even if the owners (shareholders) change, die, or sell their shares. The corporation is a separate legal entity from its owners, so it has a life of its own.
Similar Questions
Which below is a type business who caters to their owners? a. Corporation b. Partnership c. Cooperative d. Sole proprietorship
In economics, an organization that produces a good or service is called aGroup of answer choicesfirm.company.business.All of these are correct.
It is strongly recommended that all new businesses begin with a(n) _____ orientation.Group of answer choicesconsumersalesproductionefficiency
Which type of organisation is usually not-for-profit but also has unlimited liability?
Which business unit(s) does not legally exist as a separate entity. (i) A sole trader (ii) Partnerships (iii) Companies
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.