Podcast
Questions and Answers
Which form of business entity allows for the most number of owners?
Which form of business entity allows for the most number of owners?
- Partnership
- LLC
- Sole Proprietorship
- Corporation (correct)
In which form of business entity are the owners not liable for business debts?
In which form of business entity are the owners not liable for business debts?
- Sole Proprietorship
- Partnership
- LLC
- Corporation (correct)
Which form of business entity has the owners' profits taxable to the owner?
Which form of business entity has the owners' profits taxable to the owner?
- Corporation
- LLC
- Sole Proprietorship (correct)
- Partnership
Which form of business entity limits the liability of the owner?
Which form of business entity limits the liability of the owner?
In which form of business entity are the owners liable for business debts?
In which form of business entity are the owners liable for business debts?
What is another name for the balance sheet?
What is another name for the balance sheet?
How is the accounting equation expressed?
How is the accounting equation expressed?
In which form is the balance sheet presented in side-by-side format?
In which form is the balance sheet presented in side-by-side format?
What does the balance sheet show?
What does the balance sheet show?
Where are assets, liabilities, and stockholders’ equity typically positioned in the report form of the balance sheet?
Where are assets, liabilities, and stockholders’ equity typically positioned in the report form of the balance sheet?
What is another name for the balance sheet?
What is another name for the balance sheet?
How is the accounting equation expressed?
How is the accounting equation expressed?
In which form is the balance sheet typically presented in the U.S.?
In which form is the balance sheet typically presented in the U.S.?
What does the balance sheet show?
What does the balance sheet show?
What is the main purpose of the balance sheet?
What is the main purpose of the balance sheet?
