Which of the following statements about business organizations is TRUE?
A) Partnerships are more common than proprietorships and are responsible for a larger percentage of business receipts.
B) Proprietorships are more common than either partnerships or corporations but are responsible for the smallest share of total business receipts.
C) Corporations are larger in number than either proprietorships or partnerships and also receive a larger percentage of total business receipts.
D) Partnerships are larger than both proprietorships and corporations but are less numerous than corporations.
Answer: B
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Beyond the provision of public goods, government exists to address:
A. national defense. B. limiting personal freedom. C. the problem of declining moral values. D. externalities and property rights.