1. What is the most common type of fimm in the United States and the world? O b. Corporation c. Partnership O d. Limited Liability Company a. Sole proprietor Question 2 4F 2. Which of the following best describes why the left and right sides of a balance sheet are equal? O d. The assets of a company must be equal to the liabilities of that company, according to GAAP. O c. The assets of a company must be equal to the liabilities of that company, according to GAAP. a. A company's assets plus the liabilities will be the same as the stockholders' equity. b. The assets must equal liabilities plus stockholders' equity 3. Which of the following is NOT one of the financial statements that must be produced by a public company? d. the statement of stockholders equity c. the statement of cash flows O b. the income statement O a. the balance sheet 4. U.S. public companies are required to file their annual financial statements with the U.S. Securities and Exchange Commission on which form? O d. 10-SEC O b. 10-K O a. 10-A O c. 10-0 Question 5 4 pts 5. What is a competitive market? a. a market in which goods have a different ask price and bid price O b. a market in which a good can be bought and sold at the same price O d. a market in which a good is bought for a lower price than that for which it can be sold O c. a market in which a good is sold at a lower price than that for which it can be bought