BUSN 115 STUDY Career Path Begins/busn115study.com BUSN 115 STUDY Career Path Begins/busn115study.com | Page 18

Question 13.13. (TCO 3) In 1948, a global forum was created whose
purpose it was to reduce trade restrictions on goods, services, ideas,
and cultural programs. The results of the efforts of this organization
include which? (Select all that apply.) (Points : 5)
The creation of regional alliances
Reduction of tariffs an average of 38% worldwide
Expansion of new trade rules to areas like agriculture
The protection of patents
Overcoming constraints and decrease business opportunities
Question 14.14. (TCO 4) The disadvantages of sole proprietorships
are which? (Select all that apply.) (Points : 5)
Risk of personal success
Risk of personal loss
Unlimited financial resources
Few or no fringe benefits
Unlimited life span
Question 15.15. (TCO 4) A limited liability company has which of the
following advantages? (Select all that apply.) (Points : 5)
Limited liability
Choice of taxation
Flexible ownership rules
Self-employment taxes