Below is the chart of accounts of ABC Company:

Revenues

Sales revenue

Income Tax payable.

Short-term loan.

Finished goods

Unearned revenue

Income summary

Patent

Accumulated depreciation-machines

Assets

Accounts receivables

Cars

Work in process

Cost of goods sold

Trademark

Accumulated depreciation-cars

Land

Expenses

Rent payable

Rent expense

Finance charges

Salaries expense

Petty cash fund

Raw material

Short-term investment

Depreciation expenses

Machines

Value-added tax payable

Equity

Ahmed Capital

Ali Capital

Cash in bank

Liability

Accounts payable

Salaries payable

prepayments.

Goodwill

Dividends income

Instructions:

1- Is ABC Company a corporation or a partnership, or a sole proprietorship? Justify your answer.