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

Which type of business organization is most likely to have the potential to become a subcontractor to a larger business?

A large publicly traded corporation

A government agency

A nonprofit organization

A sole proprietorship specializing in a niche service

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Verified step by step guidance

Understand the characteristics of each type of business organization mentioned in the problem. For example, a large publicly traded corporation is typically focused on large-scale operations, a government agency is not a private business, and a nonprofit organization operates with a mission-driven focus rather than profit motives.

Recognize that subcontracting often involves smaller, specialized businesses that can provide niche services or products to larger organizations. This is because larger businesses may outsource specific tasks to save costs or gain expertise.

Identify that a sole proprietorship is a business owned and operated by one individual, often specializing in a specific service or product. This structure allows for flexibility and specialization, making it attractive as a subcontractor.

Compare the characteristics of a sole proprietorship to the needs of a larger business seeking subcontractors. A sole proprietorship's ability to focus on a niche service aligns well with the requirements of subcontracting.

Conclude that the most likely type of business organization to become a subcontractor to a larger business is a sole proprietorship specializing in a niche service, as it offers the expertise and flexibility that larger businesses often seek in subcontractors.