A(n)________ Has Most of the Attributes of a Regular Corporation

question 87

Multiple Choice

A(n) ________ has most of the attributes of a regular corporation but adds the legal requirement that the company must also pursue a stated non-financial goal.

• A) limited liability corporation
• B) general partnership
• C) S corporation
• D) sole proprietorship
• E) benefit corporation

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Definitions:

Common Fixed Costs

Costs that are shared by multiple segments or products of a company and do not change with the volume of production for any single product.

Absorption Costing

Absorption costing is an accounting method where all manufacturing costs (direct materials, direct labor, and both variable and fixed overhead) are included in the cost of a produced unit.

Profits

The financial gain calculated by subtracting total expenses from total revenue.

Units Produced

The total number of finished products that a company manufactures during a specific period.