Question 7 (1 point) A business organized as a separate legal entity is a O government unit. partnership. proprietorship. corporation. Question 8 (1 point) Which of the following statements is NOT correct? 'Received cash for a provided service is considered a financing business activity 'Repaid a mortgage' is considered a financing business activity 'Purchased supplies on account is considered an operating business activity 'Purchased equipment for cash' is considered an investing business activity