Text a corporation is select one a only incorporated

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Question 2Question textA corporation is:Select one:a. Only incorporated by the IRS. b. An unincorporated business owned by two or more persons. c. A government agency.
d. A business chartered directly by Congress. e. A business incorporated under the laws of a state and owned by stockholders. f. A business incorporated under the laws of a state and owned by a single proprietor. FeedbackThe correct answer is: A business incorporated under the laws of a state and owned by stockholders.
Correct. (Chapter Reference 02.03.03)
Question 3CorrectQuestion textWhen a business purchases a truck with cash on hand, that transaction is reflected on the:
Question 4CorrectQuestion textWhich of the following statements is FALSE?
Question 5CorrectQuestion textThe basic accounting equation is:
Question 6CorrectQuestion textOf the five primary accounting concepts, which one assumes an indefinite future?Select one:a. Going-concern (continuity) concept. b. The business entity concept. c. Periodicity (time periods) concept. d. None of the these.
e. The money measurement concept. f. Exchange-price (or cost) concept (principle). FeedbackThe correct answer is: Going-concern (continuity) concept.

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