Describe the primary forms of business organizations.
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Q1: Expenses are the cost of assets consumed
Q5: A partnership is a business organized as
Q8: A proprietor has unlimited liability.
Q9: The liability of corporate shareholders is limited
Q11: Accounting communicates financial information about a business
Q12: Shareholders and creditors are the only people
Q19: Identify the users and uses of accounting.
Q20: The information needs and questions of external
Q21: Profit is another term for revenue.
Q22: The basic accounting equation subdivides liabilities into
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