1. Introduction to Accounting

Which of the following is NOT one of the three main forms of legal ownership of a business?

Which type of business organization purchases goods from manufacturers and sells them to retailers?

Which type of business organization is most likely to use an on-premises business management system?

Which individuals are typically involved in the formation and operation of a partnership?

Which of the following organizational forms provides its owners with limited liability?

Business responsibility can include responsibility to whom?

Which of the following forms of business organization offers limited liability to all its owners and allows for easy transfer of ownership?

Which type of business organization typically enters into contracts with other businesses to allow them to operate under its name and system in exchange for a fee?

A firm's target capital structure represents:

Which term is used to describe the business rules governing the relationships connecting entities within an organization?

Where does a domestic insurer have its home office?

A conglomerate fits which type of corporate diversification model?

How does a corporation differ from a sole proprietorship?

Which of the following best describes a sole proprietorship?

Which of the following best describes the significance of the primary business activities (operating, investing, and financing) in financial accounting?