The Most Common Form of Business Organization in the United

question 349

Multiple Choice

The most common form of business organization in the United States is the

• A) proprietorship.
• B) partnership.
• C) corporation.
• D) cooperative.

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Definitions:

Credit Risk

The possibility of a loss resulting from a borrower's failure to repay a loan or meet contractual obligations.

Accounting Standards

Are the rules and guidelines that companies must follow when reporting financial data, allowing for consistency, transparency, and comparability.

Financial Statement Forecasts

Projections or estimates of a company's future financial performance, including income statements, balance sheets, and cash flows.

Depreciation Expense

An accounting method that allocates the cost of a tangible asset over its useful life.