A Corporation Owned by One Person Is Treated Under the Law

question 2

True/False

A corporation owned by one person is treated under the law as separate from that person.

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Definitions:

Straight-Line Depreciation

A plan for parceling out the expense of a physical asset throughout its active life in uniform yearly amounts.

Cost-Cutting

The process of reducing operating expenses within a business to improve profitability.

Revenue-Generating

Activities or endeavors that result in the inflow of money to an organization, typically from the sale of goods or services.

Opportunity Cost

The expenditure of bypassing the closest optimal alternative in the decision-making process.