
Concept Introduction:
The association of two or more people (unincorporated) for pursuing business for their own profits is called a
Requirement 1:
The year in which Byung-Chull Lee started Samsung and the name under which it was started.
Concept Introduction:
The association of two or more people (unincorporated) for pursuing business for their own profits is called a partnership. In many services, small retail businesses partnership is common. Many lawyers, accountants, work in partnership. A partnership is generally voluntary and is said to have a limited life where any partner could end the partnership if desired.
Requirement 2:
The operating focus of the original company.

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Chapter 12 Solutions
Fundamental Accounting Principles
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