Question 10 5 out of 5 points which of the following

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Question 10 5 out of 5 points Which of the following statements is TRUE of a sole proprietorship?
Question 11 5 out of 5 points Which of the following is a characteristic of a limited-liability company (LLC)?
Question 12 0 out of 5 points Dynamic Production Services started the year with total assets of $130,000 and total liabilities of $50,000. The company is a sole proprietorship. The revenues and the expenses for the year amounted to $100,000 and $60,000, respectively. During the year, there were no new capital contributions, and the owner withdrew $45,000. Calculate
Dynamic's net income for the year.
Question 13 5 out of 5 points The field of accounting that focuses on providing information for external decision makers is __________.
Question 14 5 out of 5 points Ten years ago, a company purchased a building for $190,000. At that time, the company felt that the building was worth $215,000. The current market value of the building is $450,000. The building has been assessed at $425,000 for property tax purposes. At which amount should the company record the building in its accounting records?

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