Question Details

A factor which distinguishes the corporate form of organization 



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 numerous 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.
Corporations: Organization and Capital Stock Transactions 13 - 7
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 nonprofit.
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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