A commercial enterprise, usually organized for profit of its owners, and typically involving the provision of goods or services to a customer is known as a Business.
What is a Business?
- The practice of earning a living or generating revenue via the production, acquisition, and sale of items is known as business (such as goods and services). Additionally, it includes "any activity or enterprise undertaken for profit."
- The owner of the business is responsible and liable for any obligations made by the business since the business entity is not legally distinguished from the owner by the use of a business name. In the event that a firm accrues debt, creditors may seize the owner's personal property. Corporate tax rates are not permitted in a firm structure. All business income is subject to personal taxation for the proprietor.
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Question:
A commercial enterprise, usually organized for profit of its owners, and typically involving the provision of goods or services to a customer is known as a:
Select one:
a. corporation.
b. partnership.
c. public company.
d. business.