A ________ has limited liability, is a legal entity, and has the greatest potential to raise capital
A) sole proprietorship
B) general partnership
C) limited partnership
D) corporation
Answer: D
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Which of the following is subtracted from net sales revenue to arrive at gross profit on a multi-step income statement?
A) selling expense B) cost of goods sold C) sales discounts D) all of the above
A product consists of four parts. The reliabilities of these parts are 0.96, 0.86, 0.74, and 0.44. Calculate and indicate product reliability.
A. 26.9% B. 34.3% C. 23.2% D. 63.0%
Answer the following statements true (T) or false (F)
Several important committee reports gave rise to objectives and standards in place of the postulates and principles approach.
In contrast to organizational arrangements used by small independent retailers, the organizational arrangement used by department stores is categorized by _____
a. centralized decision making b. a flat organization c. specialization of functions d. simple organizational arrangements