How can the separate entity concept benefit the owner and the business
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How can the separate entity concept benefit the owner and the business
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- Explain what the separate entity assumption means whenit says a business is treated as separate from its owners foraccounting purposesWhich type of business is considered separate from those who own it?Discuss how does the growth and scalability of a sole proprietorship compare to other forms of business?
- What is the doctrine of continuity of business enterprise and continuity of proprietary interest?Describe the different types of legal arrangements that can take place to create a business combination.Discuss the different types of business structures and compare and contrast these different structures (Corporate, Sole Proprietorship, Limited Liability),
- ________ are a portion of the ownership of a company or cooperation.Explain common forms of business ownership—soleproprietorship, partnership, and corporation—and demonstrate how they differ in terms of their pre-sentation in the statement of financial position.What is the major difference between the franchisee–franchisor relationship and the agent–principal relationship? How is the agency relationship used in a corporation and a partnership?
- what are the reasons why an individual venture into a business?What are the advantages of operating a business as a partnership rather than as a corporation? What are the disadvantages?The economic entity assumption requires that the activities Select one: a. of a sole proprietorship cannot be distinguished from the personal economic events of its owners. b.of an entity be kept separate from the activities of its owner. c. of different entities can be combined if all the entities are corporations. d.must be reported to the Securities and Exchange Commission.