A Business Event Which Is Not Properly Authorized Is an Example

question 47

Multiple Choice

A business event which is not properly authorized is an example of:

• A)an invalid item
• B)an inaccurate item
• C)an incomplete item
• D)an unusual item

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Definitions:

Divested Corporations

Companies that have sold or disposed of a business unit or division to refocus their operations or strategies.

Closely Held Corporations

Corporate entities characterized by a small number of shareholders, with shares that do not trade on public exchanges and are often family-owned or controlled.

Limited Partnership

A business structure in which one or more of the owners may be granted limited liability as long as one partner is designated as a general partner with unlimited liability.

General Partnership

A business structure in which the business owners share the management and risk of the business.