Worksheet-Pros and Cons of the Forms of Business Ownership (1)

what student learns about The Accounting Cycle Advanced Accounting for Assets Partnerships and Corporations Financial Analysis and Decision Making

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 concept

Introduction to business

Using accounting vocabulary Consider the following accounting terms and definitions, and match each term to the definition:

Match each form of business organization with its description. Business Organizations Descriptions 1. Sole proprietorship a. Business owned by two or more persons. 2. Partnership b. Entity legally separate from its owners. 3. Corporation c. Business owned by a single person.

1. A friend asks you to help them organize and establish a business corporation to be based in Kabacan. A. What is the title of a document will you prepare? B. To what office and place would you advise they submit the said document for processing? C. From what code/law will you base the form and substance of the above named document?

An information system that provides reports to stakeholders about the economic activities and condition of a business is called _______________________. Group of answer choices communication networking financial statements accounting

Organizational charts ________. Group of answer choices list the salaries of all employees outline the strategic goals of the organization show the structure of an organization help management measure financial performance

Identifying users of accounting information For each user of accounting information, identify if the user would use financial accounting (FA) or managerial accounting (MA). investor banker Internal Revenue Service manager of the business controller stockholder human resources director creditor

Which of the following systems provides the internal financial information needed to manage a business? a. MRS b. IRS c. GL/FRS d. TPS

What duties/responsibilities impacted you most and why? 
on your accounting  practicum training