Which of the Following Organization Forms Accounts for the Greatest

question 18

Multiple Choice

Which of the following organization forms accounts for the greatest number of firms in the U.S.?

• A)"S" corporation
• B)Limited partnership
• C)Sole proprietorship
• D)"C" corporation

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Definitions:

Depreciation Expense

The systematic allocation of the cost of a tangible asset over its useful life, representing the wear and tear, or expiry of the asset's practical lifespan.

Billed

Billed refers to the issuing of invoices to customers for products sold or services rendered, indicating the amount due for payment.

Balance Sheet

An accounting document showcasing a firm's assets, debts, and equity of shareholders at a precise time.

Last Day

The final day of a given period, often used in the context of contracts, employment, or calendar periods.