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An advantage of the corporate form of business is that
it is simple to establish.
it has limited life.
its owner’s personal resources are at stake.
its ownership is easily transferable via the sale of shares of
stock
Question 7
A small neighborhood barber shop that is operated by its
owner would likely be organized as a
proprietorship.
partnership.
joint venture.
corporation.
Question 8
If services are rendered for cash, then
stockholders’ equity will decrease.
liabilities will increase.
liabilities will decrease.
assets will increase.
Question 9
A revenue generally