Which Form of Business Would Have Its Shares Listed on a Stock

question 13

Multiple Choice

Which form of business would have its shares listed on a stock exchange?

• A)proprietorship
• B)partnership
• C)private corporation
• D)public corporation

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Definitions:

GAAP

Generally Accepted Accounting Principles; the common set of accounting standards and procedures used in the U.S. to compile financial statements.

Revenue Recognition

A principle within accounting that determines the specific conditions under which revenue is recognized or accounted for.

Overtime Wages

Additional pay granted to employees for hours worked beyond their standard scheduled hours.

Expensed

Recorded as an expense in the financial statements in the period in which it is incurred.