Which of the following is an advantage of a corporation?
a. It is easy to form a corporation.
b. It requires little expense to form a corporation.
c. It offers limited liability for its shareholders.
d. It is a flow-through tax entity.
c
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All property, plant, and equipment assets are depreciated over time
a. True b. False Indicate whether the statement is true or false
Cash dividends on common stock are most often paid:
A. weekly. B. monthly. C. quarterly. D. semiannually. E. annually.
Auditors face ethical issues because
A) GAAP permits various standards to be used to produce profits. B) auditors may express an opinion that may impact employees of a company. C) auditors may not discover insider trading. D) GAAP does not permit fraud.
Which of the following is the primary assertion related to testing inventory on hand to see if it includes consignment goods?
a. Existence b. Completeness c. Valuation d. Rights and Obligations