Engineering Economics
A form of business organization in which a person conducts his business alone and entirely for his own profit, being solely responsible for all its activities and liabilities.

Partnership
Sole proprietorship
Entrepreneurship
Corporation

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Engineering Economics
In case of bankruptcy of a partnership,

The partners nay sell stock to generate additional capital
The partners are not liable for the liabilities of the partnership
The partners personal assets are attached to the debt of the partnership
The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities

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