Multiple Choice
A business organized as a separate legal entity is a
A) corporation.
B) proprietorship.
C) government unit.
D) partnership.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q10: Net income is another term for revenue.
Q94: External users want answers to all of
Q95: The statement of cash flows does not
Q96: Which financial statement is prepared first?<br>A)Statement of
Q97: Net income results when<br>A)Assets > Liabilities.<br>B)Assets <
Q98: Assets are resources owned by a business
Q100: The reporting entity concept applies to<br>A)sole proprietorships
Q101: Liabilities:<br>A)are future economic benefits.<br>B)are debts and obligations.<br>C)possess
Q102: Shareholder's equity consists of at least two
Q104: When an expense is incurred<br>A)an asset increases.<br>B)a