The Term Mala Prohibita Refers To___________ ​

question 84

Multiple Choice

The term mala prohibita refers to___________ ​

• A)an act that would be wrong even if nolaw prohibited it.
• B)a violation of natural law.
• C)a "human-made" law.
• D)an act that goes against the public morality.

Explain the different roles within a small business and an entrepreneur’s responsibilities.

Comprehend the importance of financial management and legal agreements in entrepreneurship.

Appreciate the impact of personal qualities and environmental factors on entrepreneurial success.

Distinguish between the entrepreneurship stage and the small business management stage.

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Definitions:

Accounting Policies

The particular standards, foundations, norms, regulations, and methods used by an organization to compile and display its financial records.

Consolidation Process

The method of combining and presenting the financial data of a parent company and its subsidiaries as one entity's financial statements.

Consolidation Worksheet

A tool used in the preparation of consolidated financial statements that combines the financial information of a parent company and its subsidiaries.

Consolidated Financial Statements

Financial statements that present the financial position and operating results of a parent company and its subsidiaries as one entity.