Assets Are Generally Divided Into

question 43

Multiple Choice

Assets are generally divided into:

• A) current assets and reliable assets
• B) non-current assets and solvent assets
• C) current assets and non-current assets
• D) current assets and solvent assets

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Definitions:

LLCs

Limited Liability Companies are flexible forms of business structure that combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation.

Ownership

The legal right or title to something, such as a company, trademark, or property, often accompanied by certain responsibilities and benefits.

Small Businesses

Entities involved in commercial, industrial, or professional activities characterized by their small size in terms of employees, revenue, or operations.

Sole Proprietorship

A business structure where a single individual owns, manages, and is personally responsible for all aspects of the business, including debts.