Which of the following cannot be engaged in managing

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46.Which of the following cannot be engaged in managing the business?A)a sole proprietorB)a general partnerC)a limited partnerD)none of the aboveAns:C
Format: Multiple Choice1-5
Learning Objective: LO 2Level of Difficulty: Easy47.Which organizational form accounts for 90 percent of the revenues of all firms in theUnited States?
Format: Multiple ChoiceLearning Objective: LO 2Level of Difficulty: Easy48.Which organizational form best enables a firm to sell its securities to the market?
Format: Multiple ChoiceLearning Objective: LO 2Level of Difficulty: Easy49.Which of the following organizational forms is subject to the most SEC regulations?
Format: Multiple ChoiceLearning Objective: LO 2Level of Difficulty: Medium50.Which organizational form best enables the owners of the firm to monitor the actions ofother owners of the same firm?A)sole proprietorship
1-6
B)partnershipC)private corporationD)public corporationAns:BFormat: Multiple ChoiceLearning Objective: LO 2Level of Difficulty: Medium51.Which of the following is considered a hybrid organizational form?
Format: Multiple ChoiceLearning Objective: LO 3Level of Difficulty: Easy52.Which of the following reports directly to the owners of the firm (assume the firm is apublic corporation)
Format: Multiple ChoiceLearning Objective: LO 3Level of Difficulty: Easy53.Which of the following is responsible for seeing that the best possible financial analysisis presented?
1-7
Format: Multiple ChoiceLearning Objective: LO 3Level of Difficulty: Medium54.Which of the following is responsible for performing an independent audit of the firm'sfinancial statements?A)CFOB)CEOC)CPA firmD)audit committeeAns:C
Format: Multiple ChoiceLearning Objective: LO 3Level of Difficulty: Easy55.How is the CPA firm insulated from being pressured by management?
Format: Multiple ChoiceLearning Objective: LO 4Level of Difficulty: Easy

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