Multiple Choice
A business organized as a corporation
A) is not a separate legal entity in most provinces.
B) requires that shareholders be personally liable for the debts of the business.
C) is owned by its shareholders.
D) has income tax disadvantages over a proprietorship or partnership.
Correct Answer:
Verified
Correct Answer:
Verified
Q10: Accounting provides financial comparisons of operating alternatives,
Q11: The common characteristic possessed by all assets
Q12: Shareholders' equity is usually comprised of<br>A)common shares
Q13: Which form of business would have its
Q14: Which of the following is true regarding
Q16: Payments to shareholders are called<br>A)expenses.<br>B)liabilities.<br>C)dividends.<br>D)shares.<br>
Q17: An internal user<br>A)is not involved in managing
Q18: Retained earnings are<br>A)the shareholders' claim on total
Q19: Any deficiency in cash from operating activities
Q20: A negative balance in retained earnings is