Question Details

The concept of an "artificial being"




1.	A factor which distinguishes the corporate form of organization from a sole proprietorship or partnership is that a
a.	corporation is organized for the purpose of making a profit.
b.	corporation is subject to more federal and state government regulations.
c.	corporation is an accounting economic entity.
d.	corporation- temporary accounts are closed at the end of the accounting period.



2.	Which one of the following would not be considered an advantage of the corporate form of organization?
a.	Limited liability of owners
b.	Separate legal existence
c.	Continuous life
d.	Government regulation



	3.	The concept of an "artificial being" refers to which form of business organization?
a.	Partnership
b.	Sole proprietorship
c.	Corporation
d.	Limited partnership



	4.	The two ways that a corporation can be classified by purpose are
a.	general and limited.
b.	profit and not-for-profit.
c.	state and federal.
d.	publicly held and privately held.



	5.	The two ways that a corporation can be classified by ownership are
a.	publicly held and privately held.
b.	stock and non-stock.
c.	inside and outside.
d.	majority and minority.






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