Question 1
What is one of the biggest differences between a sole proprietorship and a corporation?
◦ Sole proprietorships offer stock.
◦ Corporation shareholders elect the managers of the firm.
◦ Sole proprietorships have limited liability.
◦ Corporations are the only profitable firms.
Question 2
Which entity produces the greatest proportion of U.S. gross domestic product?
◦ government
◦ non-profit organizations such as hospitals
◦ firms
◦ universities