Which One of the Following Would Not Be Considered an Advantage

question 31

Multiple Choice

Which one of the following would not be considered an advantage of the corporate form of organization?

• A)Limited liability of stockholders.
• B)Separate legal existence.
• C)Continuous life.
• D)Government regulation.

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Definitions:

Income Statement

A report that outlines a company's financial results for a certain period, including income and expenditures, to reveal a net gain or deficit.

Balance Sheet

A report detailing a corporation's assets, liabilities, and the equity of its shareholders at a particular moment.

General Ledger

A comprehensive set of accounts that records all financial transactions of a business, serving as the primary source for preparing financial statements.

Income Statement Accounts

These include revenue, expense, gain, and loss accounts that summarize the financial performance of a company over a period of time.