Answered: PART 1.) Please list 2 Sole…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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PART 1.) Please list 2 Sole Proprietorship companies that you know of. What do they sell and where?

PART 2.) Please list 2 Partnership companies that you know of. What do they sell and where?

PART 3.) Please list 2 Corporation companies that you know of. What do they sell and where?

PART 4.) For the Individual Class project of making a business, What business have you decided you would like to create? What are your services? Are you an SP, P or CORP? Please give the details that you have came up with as of yet

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

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