Considering a monitoring mechanism
Which of the following is not considered a monitoring mechanism?
A) The Securities and Exchange Commission (SEC)
B) Top level management
C) The board of director's audit committee
D) The external auditors
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Jay is the sole shareholder of Brown Corporation, which is an S corporation. During the current year, Brown earned net operating income of $80,000 and had a long-term capital loss of $3,000. Also, Jay withdrew $40,000 from the corporation. Jay mus
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List and explain the steps followed in converting business into a franchise
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