1) A partnership is a business which is :

A. easy to form.

B. ends with the death of a partner.

C. owned by more than one person.

D.All of the above.

2) A corporation:

A. can continue indefinitely.

B. is owned by stockholders.

C. has limited risk to stockholders.

D. All of the above

3) The payment of accounts receivable would:

A. increase both assets and liabilities.

B. increase assets and decrease liabilities.

C. have a net zero effect.

D. decrease assets and increase liabilities.

4) Which accounts are affected when the company provides services to a credit customer?

A. Assets and capital

B. Liabilities and capital

C.Assets and revenue

D. None of the above.