Which of the following Is not required to use IFRS? Multiple Choice O Publically traded company O Crown corporation Private enterprise

Q: What limitations are S-corporations subject to?

A: S corporation is referred to as the corporation, which are treated regarding the federal tax…

Q: What corporate power does the board not determine but only exercise? Express power Implied power…

A: Corporate powers are those powers through which the business achieve its purpose of business and…

Q: Which of the following best describes the extent to which the SEC requires or permits the use of…

A: SEC is Securities and Exchange Commission of U.S., this is the main authority for making laws and…

Q: A corporation existing in fact but not in law   Choices; De facto corporation De jure corporation…

A: De facto corporation refers to the existence of the company in reality but not recognised by law. De…

Q: Why does the shareholder liability limited?

A: Shareholders generally hold shares of the company which is limited by shares. A company limited by…

Q: If the corporation is considered as de facto, who can question its existence?   Board of Directors…

A: When corporation is considered as de facto, it means that corporation exist even though it may not…

Q: Which characteristic of a corporation is a disadvantage? Mutual agency Double taxation Limited…

A: Corporation: The form of business entity ,which is incorporated by state law into a separate legal…

Q: How does a benefit corporation’s charter differ from that ofa typical U.S. corporation?

A: Corporate structure that extends directors' fiduciary obligations to incorporate different interests…

Q: What is the difference between a public and a private corporation? Provide an example of each.

A:

Q: Explain publicly owned corporation

A: Publicly owned corporation: A publicly owned corporation is a corporation whose proprietorship is…

Q: Which business organization has the most legal formality requirements? a. Corporation b. Partnership…

A: A corporation is funded by many owners (shareholders) and to keep their money safe, corporations…

Q: Which of the following is an organizational disadvantage of a corporation?   A. Taxable entity…

A: Income tax is a liability of every individual toupee to the government on the basis of their taxable…

Q: What are the key differences among proprietorships, partnerships, and corporations?

A: Sole proprietorship: This form of business is possessed by one person who creates all the business…

Q: Corporations offer the advantage of limited liability. Explain what is meant by that statement.

A: Corporation: A business concern where there is a separate legal entity, and are owned by…

Q: Define shareholder agreement. Explain how it is different to articles of association

A: The articles of association are a legal document that defines a company's objective and lays out the…

Q: Does the election of one form of management create a difference in the fiduciary duties of members…

A: Limited liability Company: Limited Liability Company refers to a business structure where the owners…

Q: Is there any consequences if one person corporation (OPC) was not put before or at the end of a…

A: The one person company means a company formed with only one single person or a member.

Q: What are the distinctions between Corporation and Partnership?

A: A firm is altogether a distinct legal entity from the ones that own it. In layman's terms, it is a…

Q: How it's GAAP and IFRS is suitable for Corporate Entities ?

A: The primary difference between the two systems is that GAAP can be called rules-based whereas IFRS…

Q: Which descriptor relates to the imcome approach for valuing corporations?

A: Income capitalization approach or income approach is defined as the type of the appraisal method or…

Q: Which of the following facts would prevent an S corporation election?

A: Option A is Correct answer    Share issued and paid up only such shareholders have the right to vote…

Q: Which of the following would be considered an advantage of the sole proprietorship form of…

A: Sole proprietorship can also be called as sole trader or proprietorship. In this type of business,…

Q: Explain the difference between a privately owned and  a publicily owned company?

A: The difference between a public and a private company are as follows:

Q: Differentiate between closely held and publicly owned corporations.

A: Any business with only a small number of stockholders is a closely held business. Its stocks are…

Q: What is meant by agency problem in the context of a public limited company

A: Public limited company is a kind of company that have a legal existence other than its owners and…

Q: The economic entity assumption requires that the activities Select one: a. of a sole proprietorship…

A: The economic entity is an accounting assumption followed by every organization. According to this…

Q: What is not-for-profit corporation?

A: Nonprofit organization: It basically comes under a non-profit motive organization like banking…

Q: How its GAAP and IFRS is suitable for corporate entities?

A: GAAP: The full form for GAAP is generally accepted accounting principles. It refers to the…

Q: Choose the correct. Which of the following best describes the extent to which the SEC requires or…

A:

Q: What is the difference between private Canadian corporation and public Canadian corporations?

A: According to the Government of Cannada, For tax purposes, the corporations are divided into types of…

Q: How does The Model Business Corporation Act designed to serve?

A: Corporation: A corporation is a form of business entity that is incorporated through the state…

Q: Which of the following statements is true in relation to a limited liability company? A A limited…

A: We have the following question: Which of the following statements is true in relation to a limited…

Q: What requirments are imposed on publicly traded corporations by the Sarbanes-Oxley Act?

A: Fraud: It is the intentional misrepresentation of facts or information for the motive of personal or…

Q: Explain the difference between an S corporation and a limited- liability company.

A: Introduction: A limited liability company is a corporate group that has a business or entity with a…

Q: Distinguish between publicly held and privately (or closely) held corporations.

A:

Q: Which of the following best describes the extent to which the SEC requires or permits the use of…

A: Option d. The statement U.S. public companies are neither required nor allowed to use IFRS best…

Q: What issue does agency theory examine? Why is it important in a public corporation rather than in a…

A: Agency theory states the fiduciary duty of management towards the shareholders. The duty is to…

Q: Describe the difference between a sole proprietorship, a partnership, and a corporation?

A: Ownership- Ownership is the condition or fact of legal control and control over possessions, which…

Q: 1) What is One Person Corporation?  2) How to register Sole Proprietorship in BIR and DTI?

A: Answer: Concept: Corporation is the organization formed with group of people who work together to…

Q: Describe the differences between a Subchapter S corporation and a Subchapter C corporation.

A: Corporation: A corporation is a form of business entity that is incorporated through the state…