FOUNDATIONS OF FINANCE-MYFINANCELAB
10th Edition
ISBN: 9780135160619
Author: KEOWN
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 1, Problem 7RQ
a.
Summary Introduction
To discuss: The legal form of business that is favored by organizational requirements and costs.
b.
Summary Introduction
To discuss: The legal form of business that is favoured by liability of the owners.
c.
Summary Introduction
To discuss: The legal form of business that is favored the continuity of the business.
d.
Summary Introduction
To discuss: The legal form of business that is favored the transferability of ownership.
e.
Summary Introduction
To discuss: The legal form of business that is favoured the management control and regulations.
f.
Summary Introduction
To discuss: The legal form of business that is favored the ability to raise capital.
g.
Summary Introduction
To discuss: The legal form of business that is favored by income taxes.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Setting accounting standards by the private
sector is
Select one:
a. Common law accounting
O b. Independent discipline approach
O c. Microeconomic approach
O d. Code law accounting
What are the impact of eXtensible Business Reporting Language on entities, accountants and investors in the business environment and the capital market?
Which of the following term is related to the compliance of business ethics?
O a. Public image
O b. Goods
O C. Social responsibility
O d. Law
Knowledge Booster
Similar questions
- 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.arrow_forwardAccording to the principle of Conservatism it is defined that whenThere are many ways to determine accounting results (all equally acceptable) the method that has the least favorable effect on net profit and assets should be chosen.Give two examples of the choice of accounting practices and then document how the principle of Conservatism protects the Shareholders and financiers of an entityarrow_forwardThe primary objective of management accounting is O A. to provide management with information useful for planning and control of operations. O B. to provide banks and other creditors with information useful in making credit decisions. O. C. to provide the relevant taxation authorities with information about taxable income. O D. to provide shareholders and potential investors with useful information for decision making.arrow_forward
- Identify each of the following characteristics as being an advantage, a disadvantage, or not applicable to the corporate form of business organization. 1. Separate legal entity 2. Taxable entity resulting in additional taxes 3. Continuous life 4. Unlimited liability of owners 5. Government regulation 6. Separation of ownership and management 7. Ability to acquire capital 8. Ease of transfer of ownershiparrow_forwardCompare and contrast the three types of business organizations (Sole proprietorship, Partnership, and Corporation) with respect to the following items:(1) ownership, (2) liability, and (3) capitalization.arrow_forwardWhat financial statements are not for profit organizations required to issue? Compare them to what a typical business' enterprise would issue.arrow_forward
- In each case below, I have given a goal that a business might have. What you need to do is to indicate for each whether the goal can better be achieved if the business is organized as a sole proprietorship or as a corporation. goal: to minimize taxes on profits of the business goal: the ability to freely transfer ownership interests in the businessarrow_forwardWhich form of business organization is characterized by having the shortest start-up time and lowest legal costs? Select one: a. partnership b. S-corporation c. proprietorship d. corporationarrow_forwardHow does the accountant's focus on the commercial goals as a priority affect the performance of his obligations in protecting public interests?arrow_forward
- In terms of Accounting Theory: Part A - What are the symptoms of a regulatory system being public, private or capture? Part B - What is the difference between private interest theory and regulatory capturearrow_forwardIf a reporting entity has a choice of either expensing or capitalizing an item of expenditure, and if the entity is subject to a high degree of political scrutiny, then what choice would be predicted by the political cost hypothesis of Positive Accounting Theory? Explain your answerarrow_forwardDiscuss the different types of business structures and compare and contrast these different structures (Corporate, Sole Proprietorship, Limited Liability),arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Intermediate Accounting: Reporting And AnalysisAccountingISBN:9781337788281Author:James M. Wahlen, Jefferson P. Jones, Donald PagachPublisher:Cengage Learning
- Individual Income TaxesAccountingISBN:9780357109731Author:HoffmanPublisher:CENGAGE LEARNING - CONSIGNMENT
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:Cengage Learning
Individual Income Taxes
Accounting
ISBN:9780357109731
Author:Hoffman
Publisher:CENGAGE LEARNING - CONSIGNMENT