The three major legal forms of business entity are the sole proprietorship, the partnership, and the ________.
Fill in the blank(s) with the appropriate word(s).
corporation
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Use the information below to answer the following question(s):Howard Co. uses the direct method to prepare its operating activities section of the statement of cash flows. Indicate how each event affects net income and the three types of activities on the statement of cash flows. In the net income column, use the letter "I" to indicate increase, the letter "D" to indicate decrease, and the letters "NA" to indicate no effect on net income. In the three cash flow columns, use the letter "I" to indicate cash inflow, the letter "D" to indicate cash outflow, and the letters "NA" to indicate no effect on cash flows.Howard Co. purchased land costing $25,000 by paying $8,000 cash and issuing a note payable for the remaining balance. src="https://sciemce.com/media/4/ppg__10826191638__f1q7g1.jpg" alt="" style="vertical-align: 0.0px;" height="66" width="467" />
What will be an ideal response?
There are four primary financial statements that are used to measure the performance of a firm. Which of the choices below are included among these four?
A) The balance statement and income statement B) The income sheet and statement of retained earnings C) The statement of cash flows and statement of balance D) The balance sheet and statement of cash flows
Portfolio investment is capital invested in activities that are ________ rather than made for ________
A) short term; the long term B) long term; profit C) profit motivated; control D) control motivated; profit
All forms of business organizations limit the liability of their owners.
Answer the following statement true (T) or false (F)