C. Identify the Form of Business Organization being described. (FOMI ONpusiness organization with unlimited lives and the gean ol withdrawal of anownerOcessability.4. It involves a contractual agreement between all the partners that set the terms andconditions of their business relationship, including the distribution of ownership, responsibilities,and profits and losses.5. This form of business organization generally enjoys fewer options to raise capital.

Business Organisation is something in which some commercial activity like sales or goods and…

Answered: C. Identify the Form of Business…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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1.The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue, is the:Going-concern assumption.Business entity assumption.Objectivity principle.Cost Principle.Monetary unit assumption. 2.A partnership:Is also called a sole proprietorship.Has unlimited liability for its partners.Has to have a written agreement in order to be legal.Is a legal organization separate from its owners.Has owners called shareholders. 3.The difference between a company’s assets and its liabilities, or net assets is:Net income.Expense.Equity.Revenue.Net loss. 4.Which of the following accounting principles prescribes that a company record its expenses incurred to generate the revenue reported?Going-concern assumption.Matching principle.Cost principle.Business entity assumption.Consideration assumption. 5.The primary objective of financial accounting is:To serve the decision-making…
B. Analysis of Information. Presented below are possible advantages and disadvantages. You are to determine in the first column whether the item pertains to an advantage or disadvantage. On the second column, you are to determine the related business organization. Item 1 has been done for you.Information Advantage or DisadvantageBusiness Organization1. In the event of bankruptcy, business creditors can run after the personal assets of the owners.Disadvantage Sole Proprietorship Partnership2. Involvement of more persons in the business, hence more sources of expertise as compared to the most simple business organization.3. Transferability of ownership4. Limited life5. Business organization as a juridical or separate person6. Corporate existence of 50 years, renewable7. Most limited source of funding8. Most regulated business organization9. Double taxation10. Limited liability11. Unlimited liability
Q: Compare the characteristics of organizational and legal forms of enterprises: Criteria The organizational and legal form Individual entrepreneur Economic partnership (LLC) Economic society (JSC) Simplicity of the creation Control over the activities Liability of the owners Investment Liquidity* Period of existence
Q1. When the management of a business is conducted by individuals other than the owners, the business is more likely to be a: partnership. sole proprietorship. general partner. corporation.
. It is a type of business combination wherein an investor, having an existing involvement in the investee, acquires additional investment in order to obtain control over the investee. a. Business combination achieved by contract alone b. Business combination achieved by mere exchanges of equity interests c. Business combination achieved in stages d. Baby step combination
Bank Muscat LLC is an example of which of the following forms of business organization? O a. Corporation O b. Sole Proprietor O c. Partnership d. All the options are wrong
Which type of business will most likely have problems with insufficient funds for business? A)Partnerships B)LLCs C)Corporations D)Sole proprietorship
Which of the following statements is true regarding business plans: A. A corporation is the only legal form of business ownership that should develop a business plan. B. The operating plan details information regarding the business's services. C. Owners often use business plans as a tool to help them achieve their objectives. D. Lending institutions do not usually require loan applicants to submit a business plan.
What term is used to describe the characteristic of a business entity where an individual(s) associated with an entity can not only lose all of his/her investment in the firm but personal assets can be taken to pay the debts of the firm if necessary? Group of answer choices unlimited liability limited liability dissolution mutual agency
For a business of a certain size, which type of business organization provides the least amount of protection from bankers and other creditors of the company? OA. Proprietorship OB. Partnership C. Both a and b OD. Corporation
Please help with this Accounting type Question: Which of the following is not the purpose of admission of a partner? A. For procuring additional capital B. For acquiring additional managerial skill C. For progress of the firm D. For increasing competition
The form of business organization that easily to obtain large sum of capital is: Select one: a. All answers are correct O b. Partnership. c. Sole proprietorship. O d. Corporation.

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