Question:56 Using a list of corporate characteristics, the student will indicate whether the characteristic is an advantage or a disadvantage for the corporate form. Options or term examples are: 1. Ownership and management are separated. 2. The entity has a continuous life. 3. Transfer of ownership is easy. 4. Stockholder's liability is limited. 5. Exposure to double taxation is evident. 6. An entity can raise MORE money than a partnership or sole proprietorship. 7. Government regulation is expensive. Which of the following does not describe accounting? a. Language of business. b. Is an end rather than a means to an end. c. Useful for decision making. d. Used by businesses, governments, nonprofit organizations, and individuals. Forensic accounting investigators can make significant contributions to a financial crime investigation. They: a. Bring a thorough knowledge of accounting and auditing. b. Bring to bear a variety of skills, including interviewing, data mining, and analysis. c. Work in a highly charged atmosphere and often present their findings. d. All of the above.
Question:56 Using a list of corporate characteristics, the student will indicate whether the characteristic is an advantage or a disadvantage for the corporate form. Options or term examples are: 1. Ownership and management are separated. 2. The entity has a continuous life. 3. Transfer of ownership is easy. 4. Stockholder's liability is limited. 5. Exposure to double taxation is evident. 6. An entity can raise MORE money than a partnership or sole proprietorship. 7. Government regulation is expensive. Which of the following does not describe accounting? a. Language of business. b. Is an end rather than a means to an end. c. Useful for decision making. d. Used by businesses, governments, nonprofit organizations, and individuals. Forensic accounting investigators can make significant contributions to a financial crime investigation. They: a. Bring a thorough knowledge of accounting and auditing. b. Bring to bear a variety of skills, including interviewing, data mining, and analysis. c. Work in a highly charged atmosphere and often present their findings. d. All of the above.
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter18: Comparative Forms Of Doing Business
Section: Chapter Questions
Problem 41P
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Transcribed Image Text:Question:56
Using a list of corporate characteristics, the student will
indicate whether the characteristic is an advantage or a
disadvantage for the corporate form. Options or term
examples are:
1. Ownership and management are separated.
2. The entity has a continuous life.
3. Transfer of ownership is easy.
4. Stockholder's liability is limited.
5. Exposure to double taxation is evident.
6. An entity can raise MORE money than a partnership or
sole proprietorship.
7. Government regulation is expensive.
Which of the following does not describe accounting?
a. Language of business.
b. Is an end rather than a means to an end.
c. Useful for decision making.
d. Used by businesses, governments, nonprofit
organizations, and individuals.
Forensic accounting investigators can make significant
contributions to a financial crime investigation. They:
a. Bring a thorough knowledge of accounting and auditing.
b. Bring to bear a variety of skills, including interviewing,
data mining, and analysis.
c. Work in a highly charged atmosphere and often present
their findings.
d. All of the above.
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