The form of business organization that comprises about 18 percent of all businesses in the United States is the
A. joint venture.
B. syndicate.
C. sole proprietorship.
D. partnership.
E. corporation.
Answer: E
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Modern Designs is a new business. During its first year of operations, credit sales were $43,000 and collections of credit sales were $34,000. One account, $625, was written off. Management uses the percent-of-sales method to account for bad debts expense and estimates 3% of credit sales to be uncollectible. Bad debts expense for the first year of operations is ________.
A) $665 B) $1290 C) $625 D) $2310
When explaining "limitations," the researcher is noting
a. his or her own weaknesses and those of the team. b. why there is not enough time to do a thorough job. c. constraints which the researcher has chosen to place on the research. d. normal constraints placed on the research which are beyond the control of the researcher.
Which of the following statements about the entry to record depreciation is true?
A. The entry involves a credit to the asset being depreciated. B. The entry involves a credit to Depreciation Expense. C. The entry involves a credit to a liability. D. The entry involves a credit to a contra-asset account.
For the FTC to consider a practice to be unfair, it must meet a three-part test. Which of the following is NOT one of those tests?
A)The practice causes a substantial consumer injury. B)The harm of the injury outweighs any countervailing benefit. C)The consumer had no reasonable way to recoup lost funds from the injury. D)The consumer could not reasonably avoid the injury.