A corporation:
A) Is a legal entity separate and distinct from its owners.
B) Is regulated by Canada Revenue Agency.
C) Has shareholders who have unlimited liability for the acts of the corporation.
D) Can only have two owners.
E) Is not a legal entity.
Correct Answer:
Verified
Q24: The monetary unit principle means that transactions
Q61: Transactions that impact only assets do not
Q82: The internal functions of a business include:
A)
Q83: The recording of financial transactions either manually
Q85: Accounting is an information and measurement system
Q86: A partnership:
A) Is also called a sole
Q87: Professional accountants can be:
A) Chartered Accountants.
B) Certified
Q88: An audit:
A) Is required for every business.
B)
Q89: Internal controls are procedures set up to:
A)
Q92: Items such as sales slips, invoices, cheques,
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