Which of the Following Is Not Subject to Classification as a Personal

question 63

Multiple Choice

Which of the following is not subject to classification as a personal service corporation?

• A)construction
• B)law
• C)accounting
• D)performing arts

---

Definitions:

Revenues

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Reportable Segment

A part of an organization that engages in business activities from which it may earn revenues and incur expenses, and whose operating results are regularly reviewed by the organization's chief operating decision maker.

Operating Segment

A component of a business that engages in business activities from which it may earn revenues and incur expenses, including segments with related products, services, or geographic areas.

Quick Assets

Liquid assets that can be rapidly converted into cash without significantly affecting their value, including cash, marketable securities, and receivables.