HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
7th Edition
ISBN: 9780136505273
Author: MILLER-NOBLES
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 1, Problem 4QC
To determine
Business entity: A business organization which is created by one or more persons and governed by the state law is referred to as business entity.
To find: The type of business organization that is owned by single owner
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Which type of business organization is owned by only one owner?
a. Corporation
b. Partnership
c. Sole proprietorship
d. Items a, b, and c are all correc
Which forms of business organization,
ownership is readily transferable?
a. Corporation
b. Sole Proprietorship
c. Limited Liability Company
d. Partnership
Multiple choice:
All of the following are forms of business organizations except:
A. proprietorship
B. partnership
C. corporation
D. governmental unit
2. An entity where ownership is divided into shares of stock is a:
A. proprietorship
B. trade agreement
C. corporation
D. mutual agency
Chapter 1 Solutions
HORNGREN'S FINANCIAL & MANGERIAL ACCOUNT
Ch. 1 - Prob. 1QCCh. 1 - Prob. 2QCCh. 1 - Prob. 3QCCh. 1 - Prob. 4QCCh. 1 - Prob. 5QCCh. 1 - Which of the following requires accounting...Ch. 1 - At the end of a recent year, Global Cleaning...Ch. 1 - Consider the overall effects on Global Cleaning...Ch. 1 - Assume that Global Cleaning Service performed...Ch. 1 - The balance sheet reports the a. financial...
Ch. 1 - Assume Global Cleaning Service had net income of...Ch. 1 - What is accounting?Ch. 1 - Prob. 2RQCh. 1 - Prob. 3RQCh. 1 - Prob. 4RQCh. 1 - Prob. 5RQCh. 1 - Prob. 6RQCh. 1 - Prob. 7RQCh. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - Which concept states that accounting information...Ch. 1 - Financial statements in the United States are...Ch. 1 - Prob. 12RQCh. 1 - Prob. 13RQCh. 1 - Prob. 14RQCh. 1 - Prob. 15RQCh. 1 - Prob. 16RQCh. 1 - List the four financial statements. Briefly...Ch. 1 - What is the calculation for return on assets...Ch. 1 - Identifying users of accounting information For...Ch. 1 - Prob. 1.2SECh. 1 - Prob. 1.3SECh. 1 - Prob. 1.4SECh. 1 - Applying accounting assumptions and principles...Ch. 1 - Prob. 1.6SECh. 1 - Prob. 1.7SECh. 1 - Identifying accounts Consider the following...Ch. 1 - Using the accounting equation to analyze...Ch. 1 - Using the accounting equation to analyze...Ch. 1 - Prob. 1.11SECh. 1 - Prob. 1.12SECh. 1 - Prob. 1.13SECh. 1 - Prob. 1.14SECh. 1 - Prob. 1.15SECh. 1 - Prob. 1.16SECh. 1 - Prob. 1.17ECh. 1 - Prob. 1.18ECh. 1 - Prob. 1.19ECh. 1 - Prob. 1.20ECh. 1 - Prob. 1.21ECh. 1 - Prob. 1.22ECh. 1 - Prob. 1.23ECh. 1 - Prob. 1.24ECh. 1 - Using the accounting equation to analyze...Ch. 1 - Using the accounting equation to analyze business...Ch. 1 - Using the accounting equation to analyze business...Ch. 1 - Prob. 1.28ECh. 1 - Prob. 1.29ECh. 1 - Prob. 1.30ECh. 1 - Use the following information to answer Exercises...Ch. 1 - Use the following information to answer Exercises...Ch. 1 - Prob. 1.33ECh. 1 - Use the following information to answer Exercises...Ch. 1 - Use the following information to answer Exercises...Ch. 1 - Use the following information to answer Exercises...Ch. 1 - Preparing the statement of cash flows For each...Ch. 1 - Prob. 1.38ECh. 1 - Prob. 1.39ECh. 1 - Prob. 1.40ECh. 1 - Prob. 1.41APCh. 1 - Prob. 1.42APCh. 1 - Prob. 1.43APCh. 1 - Prob. 1.44APCh. 1 - Prob. 1.45APCh. 1 - Prob. 1.46APCh. 1 - Prob. 1.47APCh. 1 - Prob. 1.48BPCh. 1 - Prob. 1.49BPCh. 1 - Prob. 1.50BPCh. 1 - Prob. 1.51BPCh. 1 - Prob. 1.52BPCh. 1 - Prob. 1.53BPCh. 1 - Prob. 1.54BPCh. 1 - Prob. 1.55CPCh. 1 - Lets examine a case using Gregs Tunes and Sals...Ch. 1 - The tobacco companies have paid billions because...Ch. 1 - Prob. 1.1CTFC
Knowledge Booster
Similar questions
- 3. Explain the concept of the following Business Ownerships: Sole Proprietorship, Partnership, Corporation, and Cooperation. Describe the advantages and disadvantages of each business.arrow_forwardWhich of the following is NOT a form of ownership that the entrepreneur should consider? a. Sole proprietorship b. Limited partnership c. Corporation d. General partnershiparrow_forwardWhich of the following business organization is owned by two or more persons? O a. Company O b. Sole proprietorship O c. Partnership O d. Corporation.arrow_forward
- 2. Which type of business is owned by one individual? a. Corporation b. Partnership c. Proprietorship d. Limited Liability Company (LLC)arrow_forwardMatch each form of business organization with its description. Business Organizations Descriptions 1. Sole proprietorship a. Business owned by two or more persons. 2. Partnership b. Entity legally separate from its owners. 3. Corporation c. Business owned by a single person.arrow_forwardWhich of the following is not one of the three forms of business organization? Corporations. Partnerships. Proprietorships. Investorsarrow_forward
- Q1. When the management of a business is conducted by individuals other than the owners, the business is more likely to be a: partnership. sole proprietorship. general partner. corporation.arrow_forwardCompare and contrast the three types of business organizations (Sole proprietorship, Partnership, and Corporation) with respect to the following items:(1) ownership, (2) liability, and (3) capitalization.arrow_forwardIdentify which of the following are known as the owners of corporations. a. Shareholders b. Employees c. Owners d. Partnersarrow_forward
- Which of the following is true about an organizational structure? It is either a sole proprietorship, a partnership, or a corporation. It is similar for most companies. It is the framework by which a group is organized. O It is typically inflexible and centralized.arrow_forwardDetermine if sole proprietorship, partnership, or corporation. Select all that is applicable between the three forms of business. • greater access to financial resources difficult to liquidate or terminate • separate management from ownershiparrow_forwardFor business it is difficult to expand and increase the number of branches: O a. Corporation b. Corporation O c. Sole Proprietorship O d. Partnershiparrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you