Which Term Refers to the Formalized Rights,duties,and Responsibilities of a Person

question 46

Multiple Choice

Which term refers to the formalized rights,duties,and responsibilities of a person?

• A) patriarch
• B) juristic person
• C) corporation
• D) government institution

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Definitions:

Financing Activities

Transactions and events that affect the long-term liabilities and equity of a company, such as issuing debt, repaying loans, or distributing dividends.

Issued Bonds Payable

Long-term liabilities representing borrowed funds that a company must repay to bondholders.

Paid Note Payable

The satisfaction or settlement of a debt instrument or promissory note through payment by the debtor to the lender according to the agreed terms.

Common Stock

Equity ownership in a corporation, with voting rights and the potential to receive dividends.