Accounting 211 exam
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | True
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| As a legal entity, a corporation has most of the rights and privileges of a person. | show 🗑
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| show | False
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| Corporations may buy, own, and sell property; borrow money; enter into legally binding contracts; and sue and be sued. | show 🗑
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| The net income of a corporation is not taxed as a separate entity. | show 🗑
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| Creditors have a legal claim on the personal assets of the owners of a corporation if the corporation does not pay its debts. | show 🗑
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| show | False
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| The board of directors of a corporation legally owns the corporation. | show 🗑
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| The chief accounting officer of a corporation is the controller. | show 🗑
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| Corporations are subject to fewer state and federal regulations than partnerships or proprietorship. | show 🗑
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| show | False
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| show | False
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| show | False
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| The net income of a partnership is taxed as a separate entity. | show 🗑
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| show | True
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| show | True
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| In a limited partnership, one or more partners have unlimited liability and one or more partners have limited liability for the debts of the firm. | show 🗑
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| show | False
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To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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Created by:
suroth