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3 Cards in this Set
- Front
- Back
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Which is not one of the three forms of business organization?
Sole proprietorship Creditorship Partnership Corporation |
Creditorship |
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Which is an advantage of corporations relative to partnerships and sole proprietorships?
Lower taxes Harder to transfer ownership Reduced legal liability for investors Most common form of organization |
Reduced legal liability for investors |
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Which statement about users of accounting information is incorrect?
Management is considered an internal user Taxing authorities are considered external users Present creditors are considered external users Regulatory authorities are considered internal users. |
Regulatory authorities are considered internal users.
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