Which of the Following Is Considered a Benefit of the Corporate

question 53

Multiple Choice

Which of the following is considered a benefit of the corporate form of organization?

• A) Ease of the transfer of ownership.
• B) Limited life.
• C) Double taxation.
• D) Ease of reporting.
• E) Ease of entry into stock exchange.

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Definitions:

Debiting

The act of recording an entry on the left side of an account, indicating an increase in assets or expenses or a decrease in liabilities, equity, or revenue.

Alphabetical Order

A method of sorting by arranging items according to the sequence of the letters in the English alphabet.

Accounts Payable

Liabilities or amounts owed by a business to its creditors or suppliers for goods or services that have been received but not yet paid for.

T Account

The simplest form of an account, which consists of an account title, a debit side, and a credit side.