How does the owner of a sole proprietorship relate to the business?
A) The owner and the business are separate legal entities.
B) The owner and the business are not separate legal entities.
C) The assets of the owner are considered separate from the assets of the business.
D) None of these describe the legal relationship of the owner to the business.
Answer: B
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Typically when firms talk about depreciation they are usually referring to the deprecation of physical capital assets. However, how any why might it be possible for there to be deprecation in human capital?
What will be an ideal response?
A price floor in the cotton market will result in an excess supply unless
a. the excess demand for cotton is reduced to zero b. it is immediately followed by a shift to the right in the demand curve that reduces the excess supply to zero c. the excess supply of cotton is equal to the excess demand for cotton at the floor price d. the supply is immediately stimulated to reduce the excess demand that results from the excess supply e. the quantity demanded shifts to the right