From an accounting viewpoint, a proprietorship is a distinct and separate entity from the proprietor.
Correct Answer:
Verified
Q77: Expenses are increases in retained earnings that
Q101: Dividends are a form of expenses.
Q102: Closing retained earnings as reported on the
Q104: The statement of cash flows categorizes the
Q105: When accounting information is reliable to users
Q107: In accounting, the word "net" means after
Q108: Accounting is called an information system since
Q109: Retained earnings represent cash that is available
Q110: One benefit of organizing a business as
Q111: The owners' equity of proprietorships and partnerships
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents