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Question & Answer: A corporation is: A. Controlled by the FASB B. A business legally C. Not responsible…..

ct eqirestnancial staten onnS OPratinsinstcad of beinge Cost Principle. continue. is the: B. Going-concern assumption. C. Objectivity principle Monetary unit assumption. Business entity assumptio D. E. 8. A corporation is: A. Controlled by the FASB B. A business legally separ C. Not responsible for its D. Not subject to double t E. The same as a limited 9. The accounting principle th equivalent amount giv

A corporation is: A. Controlled by the FASB B. A business legally C. Not responsible for its D. Not subject to double E. The same as a limited

Expert Answer

Answer

8.

Correct Answer:

B.

A corporation is an independent legal entity that is separate from its owners. Hence, a corporation holds a distinct identity from the owners.

Pl. give details of the other alternatives in comments to answer it more precisely.

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