Examlex
Data from Keniston Corporation's most recent balance sheet and income statement appear below: The average collection period for this year is closest to:
Corporation
A legal entity recognized by law as separate from its owners, providing limited liability protection to its shareholders.
Legal Entity
A legal entity refers to any company or organization that has legal rights and obligations, including the ability to enter into contracts, sue, and be sued.
Sole Proprietorship
A business owned and operated by a single individual, with no legal distinction between the owner and the business entity.
Sole Proprietorship
A sole proprietorship is a type of business structure where one individual owns and operates the business, bearing sole responsibility for its assets and liabilities.
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