Asked by Brett Blahnik on May 10, 2024
Verified
About 90% of the businesses in the United States are organized as corporations.
Corporations
Legal entities that are separated from their owners, with rights and responsibilities, and established to conduct business.
- Understand the organizational structures of businesses, such as corporations and proprietorships, and their impact on accounting.
Verified Answer
CM
Candace minerMay 11, 2024
Final Answer :
False
Explanation :
According to the National Federation of Independent Business (NFIB), only about 18% of small businesses in the US are organized as corporations. However, larger businesses are more likely to be organized as corporations. The 90% figure may refer specifically to large corporations, rather than all businesses in the US.
Learning Objectives
- Understand the organizational structures of businesses, such as corporations and proprietorships, and their impact on accounting.
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