Which Type of Entity Exists Independent of the Owners

question 19

Multiple Choice

Which type of entity exists independent of the owners?

• A) sole proprietorship
• B) corporation
• C) partnership
• D) joint venture

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Definitions:

Service Department Expenses

Costs associated with departments that support the primary operations of a company, like IT support, human resources, and maintenance.

Activity Base

A measure used as a foundation for allocating costs in activity-based costing, representing transactions or events that cause costs to be incurred.

Payroll Checks

Checks issued to employees as payment for their services, representing wages or salaries.

Activity Base

A measure or factor used as a basis for allocating costs in managerial accounting, often related to the volume of production activity or the level of service provided.