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The corporation is the easiest form of business to organize.
True
False
True
it is fundamental to the communication of financial information
$10,000
False
True
sole proprietorship
Basic accounting rules and procedures differ from business to business.
True
False
True
it is fundamental to the communication of financial information
$10,000
False
True
sole proprietorship
If the creditor's financial claim to property totals $1,000 and the owner's financial claim to property totals $11,000, the property value is ____.
True
False
True
it is fundamental to the communication of financial information
$10,000
False
True
sole proprietorship
The most common form of business organization is the ____.
True
False
True
it is fundamental to the communication of financial information
$10,000
False
True
sole proprietorship
In a free enterprise system, businesses compete for customers.
True
False
True
it is fundamental to the communication of financial information
$10,000
False
True
sole proprietorship
One advantage of owning your own business is that any financial gain from operating the business is yours.
True
False
True
it is fundamental to the communication of financial information
$10,000
False
True
sole proprietorship
Accounting is often call the language of business because ____.
True
False
True
it is fundamental to the communication of financial information
$10,000
False
True
sole proprietorship
The life of a business is divided into specific periods for reporting purposes
True
False
True
it is fundamental to the communication of financial information
$10,000
False
True
sole proprietorship
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