By deciding on a competitive strategy, a business responds to the industry structure. True
Business is the practice of making a living or receiving compensation via the creation, acquisition, and selling of things (such as goods and services).
Since the business and its owner are one and the same, they are jointly and severally accountable for all debts committed by the latter. In the event that the business accrues debts, creditors may seize the owner's personal belongings. A firm structure is exempt from corporate tax rates. The proprietor must pay personal taxes on any earnings made by the company.
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