Thank you 7. The businesses predicted to undergo the mostgrowth in the coming decade area. primarily service businessesb. primarily manufacturing businessesc. businesses that convert materials intoproductsd. businesses that sell retail products towholesalers8. A business owner with unlimited liabilitya. could have to sacriÿce personal money andpossessions to pay business debtb. is not personally responsible for the debtsof the businessc. is a shareholder of a corporationd. would not have to sacriyce personal moneyand possessions to pay business debt9. The purpose of a cooperative isa. to earn projts for managementb. to beneÿt its membersc. to provide unlimited liability to itsmembersd. to pay dividends to investors10. One advantage of a corporation as compared to asole proprietorship isa. a corporation is easier to set up andrequires less paperworkb. a corporation provides limited liability forits ownersc. a corporation has fewer shareholdersd. a corporation has a partnership agreement11. A nonproÿt corporationa. provides unlimited liability to its membersb. provides limited liability to its membersc. is set up to make proyts for its investorsd. is set up to pay dividends to itsshareholders12. The special permit that allows retailers to purchasegoods tax-free from wholesalers and collect salestax from ünal buyers is called a 12. The special permit that allows retailers to purchasegoods tax-free from wholesalers and collect salestax from ÿnal buyers is called aa. reseller's permitb. retailing permitc. tax permitd. wholesale permit

Question No 7 The business predicted to undergo the most growth in coming decades are (b) primarily…

c. businesses that convert materials into products d. businesses that sell retail products to wholesalers 8. A business owner with unlimited liability a. could have to sacriýce personal money and possessions to pay business debt b. is not personally responsible for the debts of the business c. is a shareholder of a corporation d. would not have to sacriyce personal money and possessions to pay business debt 9. The purpose of a cooperative is a. to earn proyts for management b. to beneÿt its members c. to provide unlimited liability to its members d. to pay dividends to investors 10. One advantage of a corporation as compared to a

c. businesses that convert materials into products d. businesses that sell retail products to wholesalers 8. A business owner with unlimited liability a. could have to sacriýce personal money and possessions to pay business debt b. is not personally responsible for the debts of the business c. is a shareholder of a corporation d. would not have to sacriyce personal money and possessions to pay business debt 9. The purpose of a cooperative is a. to earn proyts for management b. to beneÿt its members c. to provide unlimited liability to its members d. to pay dividends to investors 10. One advantage of a corporation as compared to a

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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