Businesses can take the following form(s)
A) Sole proprietorship.
B) Partnership.
C) Sole proprietorship and partnership.
D) Not-for-profit.
E) All of these answers are correct.
Correct Answer:
Verified
Q145: Equity is also known as
A)Expenses.
B)Revenue.
C)Net assets.
D)Net loss.
E)Net
Q146: Celery Company has assets of $150,000, liabilities
Q147: The recording of financial transactions either manually
Q148: An audit
A)Is only performed for companies with
Q149: If a business is not being sold
Q151: Revenue is recognized in most businesses
A)Upon completion
Q152: Internal controls are procedures set up to
A)Protect
Q153: The internal functions of a business include
A)Research
Q154: Assets created by selling products or services
Q155: The business entity principle
A)Means that business records
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