Which of the following is an organizational disadvantage of a corporation?
A. Separate legal entity
B. Taxable entity
C. Relative ease of ownership transfer
D. Limited liability of owners
E. None of the above
Ans: B. Taxable entity
Business
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The normal balances of Sales, Sales Discounts, and Sales Returns and Allowances are ________
A) debit, credit, and credit, respectively B) debit, debit, and credit, respectively C) credit, debit, and debit, respectively D) credit, credit, and debit, respectively
Business
The level of sales revenue or volume which is required in order for the organization to cover all of its costs is called the ________.
A. equilibrium volume B. balanced quantity C. contribution margin D. break-even point E. full contribution point
Business