Characteristics of a Corporation Include

question 93

Multiple Choice

Characteristics of a corporation include:

• A)stockholders having unlimited liability.
• B)direct management by the stockholders.
• C)stockholders having limited liability.
• D)choosing a board of directors.

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Definitions:

Perpetual Inventory

An inventory management system where updates are made continuously as transactions occur.

Inventory Accounting Systems

The systems or methods used by businesses to keep track of their inventory levels, costs, and quantities.

Perpetual Inventory System

This inventory accounting procedure logs purchases or sales instantly through computerized point-of-sale systems and enterprise asset management software.

Sales of Merchandise Inventory

Transactions involving the sale of goods held for resale by a business, contributing to its primary revenue.