An Entity That Is Organized According to State or Federal

question 177

Multiple Choice

An entity that is organized according to state or federal statutes and in which ownership is divided into shares of stock is a

• A) proprietorship
• B) corporation
• C) partnership
• D) governmental unit

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Definitions:

Type of Organization

Refers to the classification of organizations based on their purposes, structures, and functionality such as nonprofits, corporations, and governmental entities.

Organized

The state or condition of being systematically arranged, especially for efficient planning and execution.

Expectations Decrease

A reduction in the anticipated or desired outcomes, often leading to adjusted objectives or satisfaction levels.

Rough Order of Magnitude

An early estimate that gives a general sense of a project's size, cost, or duration, often with wide variances.