12__D__ Which of the following forms of organization requires no formal document

Question

12__D__ Which of the following forms of organization requires no formal documentation but only business licenses for formation? A. limited partnership B. Corporation C. limited Liability Company D. sole proprietorship E. S corporation

13--Which of the following federal agencies protects the public from anticompetitive behavior and unfair and deceptive business practices? A. the Federal Trade Commission (FTC) B. the Equal Employment Opportunity Commission (EEOC) C. the Consumer Product Safety Commission (CPSC) D. the National Labor Relations Board (NLRB) E. the Federal Reserve Board (FRB)

14--Which of the following is true of the Environmental Protection Agency (EPA)? A. It protects the public against unreasonable risks of injury associated with consumer products. B. It ensures all workers a safe and healthy work environment. C. It administers all laws relating to water pollution, air pollution, solid wastes, pesticides, and toxic substances. D. It administers laws to prohibit distribution of adulterated, misbranded, or unsafe food and drugs. E. It regulates civil aviation to provide safe and efficient use of airspace.

Explanation / Answer

12. Option D

Explanation: Sole proprietorship is the simplest form of business in which the owner bears all liabilities. This type of business requires no formal documentation but only business licenses for formation.

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