For These Types of Organisation,no Distinction Is Made Between Business

question 4

Multiple Choice

For these types of organisation,no distinction is made between business and personal assets.

• A)Sole proprietorship
• B)General partnership
• C)Limited partnership
• D)Both A and B

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Definitions:

Enabling Legislation

A statute that specifies the name, functions, and specific powers of an administrative agency and grants the agency broad powers for the purpose of serving the “public interest, convenience, and necessity.”

Accounting Commission

A regulatory or advisory body focused on setting and enforcing accounting standards and practices.

Investigative Authority

The legal power or mandate given to an individual or organization to conduct investigations, often related to law enforcement or regulatory compliance.

Enabling Statutes

Enabling statutes are laws passed by a legislative body that grant certain powers or authority to a government agency or an official to implement or enforce other laws.