Which of the following is not a consequence of a company being a separate legal entity? A. A company has perpetual succession B. A company can sue and be sued in its own name C. A company owns property in its own name D. The management of the company is not separate from the owners

Which of the following is not a consequence of a company being a separate legal entity? A. A company has perpetual succession B. A company can sue and be sued in its own name C. A company owns property in its own name D. The management of the company is not separate from the owners

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter2: Analyzing Transactions: The Accounting Equation

Section: Chapter Questions

Problem 3TF: According to the business entity concept, nonbusiness assets and liabilities are not included in the...

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Question

Which of the following is not a consequence of a company being a separate legal entity?

	A.	A company has perpetual succession
	B.	A company can sue and be sued in its own name
	C.	A company owns property in its own name
	D.	The management of the company is not separate from the owners

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