Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

Business Organization

Financial Accounting

1. Introduction to Accounting

Business Organization

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Multiple Choice

Bonita Company manufactures a single product. Which type of business organization is most likely to be suitable for a small manufacturing company like Bonita Company?

Mutual fund

Nonprofit organization

Government agency

Sole proprietorship

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Verified step by step guidance

Understand the nature of the business: Bonita Company manufactures a single product, which indicates it is a small-scale manufacturing business.

Review the types of business organizations: Mutual funds are investment vehicles, nonprofit organizations focus on charitable or social causes, and government agencies are public entities. None of these align with the operations of a small manufacturing company.

Consider the characteristics of a sole proprietorship: A sole proprietorship is a business owned and operated by one individual. It is simple to set up, has fewer regulatory requirements, and is suitable for small businesses like Bonita Company.

Evaluate the suitability: A sole proprietorship allows the owner to have full control over the business operations and decision-making, which is ideal for a small manufacturing company.

Conclude: Based on the nature of Bonita Company and the characteristics of a sole proprietorship, this type of business organization is most likely to be suitable for Bonita Company.