Unt 1 milestone 1 financial accntng-2

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Saylor Academy *

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103

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Information Systems

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Nov 24, 2024

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CONCEPT → Natural Balance 3 CONCEPT → Businesses and Organizations 4 Report an issue with this question Because Mike is only accountable for the $20,000 he invested in his friend Matt's company, the two have created which of the following business types? Report an issue with this question Which of the following is a responsibility of the FASB? ● ● ● Private Corporation ● Limited Liability Company ● Dual Proprietor Structure Limited Liability Partnership UNIT 1 — MILESTONE 1 14/17
CONCEPT → Governance 5 Report an issue with this question Transferring $12,000 in revenue and $8,000 in expenses into equity would be performed during which phase of the accounting cycle? ● Developing and controlling the U.S. GAAP. ● Investigating the use of public funds ● Overseeing publicly-traded companies ● Report ● Adjust Close UNIT 1 — MILESTONE 1 14/17
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