A ___________ Is an Organization That Is Owned and Controlled

question 55

Multiple Choice

A ___________ is an organization that is owned and controlled by the people who use it-producers,consumers and workers with similar needs who pool their resources for mutual gain.

• A)corporation
• B)limited partnership
• C)mutual fund
• D)co-operative

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Definitions:

Inventory Purchases

The act of buying goods and materials a company intends to sell or use in production, impacting its stock levels and financial state.

Cost of Goods Sold

The direct costs attributable to the production of goods sold by a company, including materials and labor.

Receivables Balance

Receivables balance refers to the total amount of money owed to a company by its customers for goods or services delivered on credit.