The proprietorship form of business organization
A) must have at least three owners in most provinces.
B) is characterized by having a limited life.
C) combines the records of the business with the personal records of the owner.
D) is characterized by a legal distinction between the business as an economic unit and the owner.
Correct Answer:
Verified
Q24: A balance sheet reports the assets, liabilities,
Q40: The owner's claim on the assets of
Q41: Revenues decrease owner's equity and expenses increase
Q46: An external user could be
A) employees.
B) management.
C)
Q51: Which of the following would NOT be
Q51: A business organized as a corporation
A) is
Q53: An external user would NOT include
A) a
Q55: A Balance sheet can also be called
Q56: A Cash flow statement is organized into
Q60: The main objective of the financial statements
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