Which of the following is true about a corporation? Multiple Choice 0:36 The same as a limited liability partnership. A business legally separa from its owners. Not subject to double taxation Not responsible for its own acts and own debts. Controlled by the FASB 13 On January 23, 20x1 Normandy Theatre Company received $1,230,000 from subscribers for the summer series of plays that will be performed over a four month period beginning in May 20x1.The subscription allows the subscriber to see one play per month in May June July and August of 20x1 On January 23rd, the Company recorded the receipt of the cash in the Unearned Theatre Revenue account. Once the season begins, Normandy spreads the revenue evenly over the four months of the series. What amount of Theatre revenue should Normandy recognize in June 2017 015920 Multiple Choice $307,500 $1230,000 $615.000 0 5922.500 $820.000 If Malcolm Corporation's assets are $370,000 and its liabilities are $196,000, calculate Malcolm's equity: Multiple Choice $196,000. $370,000. $566,000 $936,000 $174,000