For Accounting Purposes, the Business Entity Should Be Considered Separate

question 72

Multiple Choice

For accounting purposes, the business entity should be considered separate from its owners if the entity is

• A) a corporation
• B) a proprietorship
• C) a partnership
• D) any of these

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Definitions:

Native American Societies

The diverse cultures, languages, and communities of the indigenous peoples of North and South America.

Social Institution

denotes the organized patterns of belief and behavior centered around fundamental social needs, such as families, education, religion, and economic systems.

Skin Color

The pigmentation of someone's skin, primarily determined by genetic inheritance and exposure to the sun, which has historically been used as a basis for social classification and discrimination.

English Common Law

A legal system originated in England, characterized by the development of law through judicial decisions and precedents, forming the basis of the legal system in England and many countries that were once British colonies.