Planning Is a Function That Involves

question 155

Multiple Choice

Planning is a function that involves

• A) hiring the right people for a particular job.
• B) coordinating the accounting information system.
• C) setting goals and objectives for an entity.
• D) analyzing financial statements.

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Definitions:

De Facto Corporation

A company that acts like a corporation and enjoys some of its benefits, despite not being duly incorporated according to statutory requirements.

Corporation By Estoppel

A defective corporation that has conducted business with a third party and therefore cannot deny its status as a corporation to escape liability.

Double Taxation

The imposition of two or more taxes on the same income, asset, or financial transaction, often referring to income taxed both at the corporate level and personally.

Excessive Taxation

Taxing beyond what is fair or reasonable, often perceived as placing undue burden on taxpayers.