Which of the Following Is an Advantage of Corporations Over

question 45

Multiple Choice

Which of the following is an advantage of corporations over sole proprietorships?

• A)Unlike sole proprietorships,existence of corporations is unaffected by the death or withdrawal of any of the stockholders.
• B)In corporations,all the owners have unlimited liability,whereas in sole proprietorships they have limited liability.
• C)Corporations offer the greatest degree of secrecy,whereas sole proprietorships do not.
• D)Corporations are easier and less costly to form than sole proprietorships.
• E)Unlike sole proprietorships,corporations are not subjected to double taxation.

Calculate and understand the role of expected inventories in budgeting.

Recognize the importance of variable and fixed costs in budget preparation.

Develop schedules for expected cash collections and merchandise purchases.

Understand the steps and calculations involved in preparing a master budget, including sales, production, and cash budgets.

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