Which of the Following Is an Acceptable Organizational Form for an Audit

question 38

Multiple Choice

Which of the following is an acceptable organizational form for an audit firm?

• A)A partnership.
• B)A professional corporation.
• C)A sole proprietorship.
• D)Any organizational form permitted by state law or regulation.

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Definitions:

Exports

Goods or services produced in one country and sold to buyers in another country.

Budget Surplus

A situation where income or revenues exceed expenditures over a specific period of time, typically a fiscal year.

Budget Deficit

A budget deficit happens when a government's expenditures surpass its revenues within a given fiscal period.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers at those prices.