What is a business owned by one individual called and the easiest legal form of business to organize that we are studying in this course? Group of answer choices limited liability company partnership sole proprietorship corporation
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- Which of the following is not considered a stakeholder of an organization? A. creditors B. lenders C. employees D. community residents E. a business in another industryUse the internet to research one manufacturing, one retail (or merchandising), and one service business. For each business, describe the following: A. the primary purpose of the entity B. the types of activities that accountants would record (hint: what is the source of the business funding, and what costs might the business have?) C. the types of decisions that might be made in this organization and how financial and nonfinancial information might help the decision-making processWhat are some of the reasons a business owner might choose the corporate form of business?
- PART 1.) Please list 2 Sole Proprietorship companies that you know of. What do they sell and where? PART 2.) Please list 2 Partnership companies that you know of. What do they sell and where? PART 3.) Please list 2 Corporation companies that you know of. What do they sell and where? PART 4.) For the Individual Class project of making a business, What business have you decided you would like to create? What are your services? Are you an SP, P or CORP? Please give the details that you have came up with as of yetBased on your understanding on different forms of business organizations, which form of business would you organize once you want to start a business? Explain why did you choose it among others.Which of the following statements is true regarding business plans: A. A corporation is the only legal form of business ownership that should develop a business plan. B. The operating plan details information regarding the business's services. C. Owners often use business plans as a tool to help them achieve their objectives. D. Lending institutions do not usually require loan applicants to submit a business plan.
- Q3) Which of the following legal forms of business is owned and usually operated by a person who is responsible for its debts? Select one: a. Corporation b. Cartel c. Sole proprietorship d. General partnership e. Limited partnership This multiple choice question from BUSINESS MATHEMATICS course.just write for me the final answer.A concept of accounting that indicates that the financial records of the business should be kept separate from the personal financial records of the business owner is the ________________________. Group of answer choices business entity concept cost concept proprietorship concept asset conceptBased on the advantages and disadvantages of each of the following forms of businesses, give an example of a business that would be best suited to that particular form. Be sure to explain why that is the best option for the particular business. (1) Sole proprietorship (2) Limited partnership (3) Corporation (4) Limited Liability Company
- MCQS: External reporting is the result of? (a) Financial accounting (b) Management accounting (c) Cost accounting (d) Social accounting Which of the following business entity is collectively known as firm? (a) Sole trader-ship (b) Partnership (c) Co-operative society (d) CompanyDivide into groups as instructed by your professor and discuss the following:a. How does the description of accounting as the “language of business” relate to accounting asbeing useful for investors and creditors?b. Explain how the decisions you would make might differ if you were an external investor or amember of an enterprise’s management team.what are the reasons why an individual venture into a business?
