Which of the following statements about types of business entities is true?
A. One advantage of the corporation form is the ability to raise capital.
B. Ownership in a partnership is represented by having shares of capital stock.
C. Sole proprietorships are subject to double taxation.
D. For accounting purposes, a sole proprietorship is not a separate entity from its owner.
Answer: A
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Which of the following best describes the distinguishing feature of statistical sampling?
A. It reduces the problems associated with the auditor's judgment concerning materiality. B. It requires the examination of a smaller number of supporting documents. C. It permits the auditor to use the most efficient sample size and to quantify the sampling risk to reach a statistical conclusion about the population. D. It is evaluated in terms of two parameters: statistical mean and random selection.
Good teams are results-oriented, meaning the team's success is measured by results, not effort
Indicate whether the statement is true or false.
In Stage One of the McMullen-Shepherd Model:
A. the entrepreneur decides whether the opportunity that exists is a match with their own knowledge and motivation. B. the entrepreneur consults experts in the market area of interest. C. the entrepreneur engages in bricolage. D. the entrepreneur decides whether or not there is an opportunity for someone.
Briefly describe the "4As" framework of execution capability.
What will be an ideal response?