The Government's Permission Is Required to Create: ______

question 40

Multiple Choice

The government's permission is required to create: ______.

• A) sole proprietorships.
• B) corporations.
• C) partnerships.
• D) unincorporated associations.

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Definitions:

Insurance Premium

A periodic payment made by an individual or company to an insurance company in exchange for coverage against specified risks.

Office Supplies

Office supplies encompass a range of items used in an office for the purpose of conducting day-to-day operations, including stationery, paper, pens, and computing equipment.

Journal Entries

The records of financial transactions in an accounting system that detail the accounts affected and in what manner, serving as the primary means to document financial activity.

General Ledger

A complete record of all financial transactions over the life of a company, used to compile the financial statements.