Which of the following has a restriction on the number of owners, members, or stockholders?
A. S-corporation
B. Not-for-profit corporation
C. Open corporation
D. Limited-liability company
E. Cooperative
Answer: A
You might also like to view...
Secret profits obtained by a director or officer cannot be recovered by a corporation.
Answer the following statement true (T) or false (F)
Which of the following is a characteristic of social learning theory?
A. It is the part of operant conditioning theory. B. It explains reinforcement behaviors. C. It is largely unsupported by research. D. It introduced the social element into how people acquire new skills.
Mark and Roger entered into a contract in which Mark agreed to sell Roger a very rare painting. The contract required Mark to deliver the painting to Roger and receive payment if the appointed art expert verifies that the painting is authentic
The art expert considers the painting to be a fake. Which of the following should be cited by Roger to discharge the contract and refuse payment? A) commercial impracticability B) impossibility of performance C) condition precedent D) condition subsequent
The revenue recognition principle:
A. Provides guidance on when a company must recognize revenue. B. Prescribes that a company record the expenses it incurred to generate the revenue reported. C. Prescribes that a company report the details behind financial statements that would impact users' decisions. D. Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold. E. Prescribes that accounting information is based on actual cost.