A ________ Is a Business Entity That DOES NOT Provide

question 16

Multiple Choice

A ________ is a business entity that DOES NOT provide liability protection for the business owners.

• A) C Corporation
• B) S Corporation
• C) Limited Liability Company (LLC)
• D) Sole Proprietorship or Partnership

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Definitions:

Cash Collections

The process of gathering all received cash and cash equivalents during a specified period.

Cost of Goods Sold

Expenses directly linked to the creation of a company's sold products, including the cost of materials and labor.

Accounts Payable Period

The average time period a company takes to pay off its suppliers after a purchase has been made, an important measure of liquidity and cash flow management.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor.