Question 1a) Which of the following is NOT an essential characteristic to all assets?
a) A resource owned by the entity.
b) As a result of a past event.
c) A resource controlled by the entity.
d) A present economic resource.
Question 1b) Which of the following characteristics of a company business structure is TRUE?
a) All of the other options.
b) Easy to start up.
c) Directors have limited liability.
d) A separate legal entity.
Q1a
Answer is a. A resource owned by the entity
Q1b
Answer is a. All of the other options
Since directors have limited liability, and it is a separate legal
entity which is also easy to form
Question 1a) Which of the following is NOT an essential characteristic to all assets? a) A...
Which of the following are characteristics of the corporate organizational form? Easy to set-up Must be owned by one person Limited liability of owner(s) Could be owned by one person or multiple people More favorable tax treatment than the partnership form Payments to owners are called dividends. Owner(s) personally liable for business debts Must be owned by two or more people Separate legal entity Often easier to acquire capital than other forms
Which of the following is not a legal characteristic of a general partnership? Unlimited liability of partners for partnership recourse debt Restricted transferability of partnership interests Centralized management Limited life All of the above are legal characteristics of partnerships.
According to the Conceptual Framework which of these is not an essential characteristic of an asset? Select one: O a. The future economic benefits can be reliably measured. O b. There must be future economic benefit O c. The entity must have control over the future economic benefits. O d. It must have a re-sale value.
[25] According to the FASB’s conceptual framework, which of the following is an essential characteristic of a liability? A. Liabilities must require the obligated entity to pay cash to a recipient entity. B. Liabilities must be legally enforceable. C. The identity of the recipient entity must be known to the obligated entity before the time of settlement. D. Liabilities are obligations resulting from previous transactions or events. [26] Consolidated financial statements are prepared when a parent-subsidiary relationship exists in recognition...
4. Which of the following is not one of the essential characteristics of a liability? a. Result from past transactions or events b. Present sacrifice of economic benefits. c. Arise from present obligations (to transfer goods or provide services) to other entities. d. All the above are characteristics of liabilities. e. None of the above are characteristics of liabilities It is the future sacrifice of economic benefits Answer is B. Can you explain please?
Identify which of the following statements are true for the corporate form of organization. Choose all that apply. (A) Owners have limited liability for corporate debts.checked (B) It has an unlimited life.unchecked (C) Directors oversee its business affairs.checked (D) Ownership is usually transferred readily.unchecked (E) Generally there is no double taxation on corporate income that is distributed to owners.unchecked (F) It is not a separate legal entity from its owners.checked (G) Owners are agents of the corporation. This one has...
Which of the following is not a characteristic of a limited liability company? a. limited legal liability b. taxable c. unlimited life d. moderate ability to raise capital
1a.) Which of the following characteristics is not associated with E. coli primase? A.) it synthesizes the RNA primer in DNA replication B.) it synthesizes a primer with a free 3'−OH end C.) it is essential for DNA replication D.) it is essential for RNA replication 1b.) Which of the following is not required for optimal DNA replication? A.) Gyrase B.) Primase C.) Single strand binding proteins. D.) All of these are necessary. E.) DNA Polymerase II.
3. Matching: Match these characteristics to their business form(s)/structure(s). Write the corresponding uppercase letter or letters on the line(s). The number of blanks correspond to the number of letters that apply to that characteristic, use only one letter per blank (1 points per blank- 25 total) Owned by a singled individual Owned by two or more people (not called A. Sole Proprietorship B. General Partnership C. C Corporation D. S Corporation a. shareholders) Owned by shareholders _Proprietors) has full liability...
4. Forms of business organizations Businesses can be classified into the following forms: sole proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP) Different forms of businesses have different characteristics. Which of the following characteristics would apply to a corporation? Check all that apply. Owned by single individual Owners have limited liability Has unlimited life Chartered by a state and is its own legal entity separate and distinct from its owners and managers Easier to transfer ownership in the form of stock Exempt from double...