Agency Problems Exist in Which Forms of Business Ownership

question 46

Multiple Choice

Agency problems exist in which forms of business ownership?

• A)Sole proprietorship
• B)S corporation
• C)Partnership
• D)Corporation

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Definitions:

AASB 141

An Australian accounting standard that covers the agricultural sector, detailing the accounting for agricultural activity including the recognition and measurement of biological assets and agricultural produce.

IAS 41

An international accounting standard that prescribes the accounting treatment and reporting of agricultural activity.

Market Price

The current price at which an asset or service can be bought or sold in a marketplace.

Biological Transformation

The processes of growth, degeneration, production, and procreation that cause qualitative or quantitative changes in a biological asset.