FIN + MANAG ACCT 180 DAY CUST CONN ACC
9th Edition
ISBN: 9781266114090
Author: Wild
Publisher: INTER MCG
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Question
Chapter 1, Problem 16DQ
To determine
Business Organization:
Business organization can be an individual or group of persons who performs business activity. Business activity implies to perform sale and purchase of goods or services and earn income from it. Some business organizations are formed for profit motive and some for the non profit motive.
To identify: The three basic forms of business organization and their key attributes.
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Suppose Austin Sound had sales of $300,000 and sales returns of
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