Engineering Economics
Is an artificial being created by operation of law, having the right of succession and the process, attributes and properties expressly authorized by the law or incident to its existence.

Corporation
Property
Partnership
Organization

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Engineering Economics
Pick up the correct statement regarding financial statement analysis from the following.

Final analysis always involves the use of various financial statements i.e., balance sheet and income statement
The income statement is the summary of revenues and expenses of a firm over a particular period of time
The balance sheet is the summary of assets, liabilities and owner's equity of business at a point in time
All listed here

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Engineering Economics
In case of bankruptcy of a partnership,

The partners nay sell stock to generate additional capital
The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities
The partners personal assets are attached to the debt of the partnership
The partners are not liable for the liabilities of the partnership

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