Examlex
Which statement is false?
Accounting Purposes
The specific objectives or reasons for recording and reporting financial information, such as compliance and decision-making.
Corporation
A business organized under state or federal statutes as a separate legal entity.
Proprietorship
A business entity owned and run by one individual, where there is no legal distinction between the owner and the business.
Partnership
An unincorporated business form consisting of two or more persons conducting business as co-owners for profit.
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