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A _____________ buys raw materials and transforms them into finished products.
going concern.
partnership.
Losses are limited to the owner’s investment.
an advantage to being an entrepreneur.
manufacturing business
entrepreneur.
Information is provided in a way that can be understood by those interested in the operations and financial conditions.
external users
Which of these is not an advantage to setting up a business as a sole proprietorship?
going concern.
partnership.
Losses are limited to the owner’s investment.
an advantage to being an entrepreneur.
manufacturing business
entrepreneur.
Information is provided in a way that can be understood by those interested in the operations and financial conditions.
external users
Someone who transforms ideas for products or services into real-world business is called a(n) _____________.
going concern.
partnership.
Losses are limited to the owner’s investment.
an advantage to being an entrepreneur.
manufacturing business
entrepreneur.
Information is provided in a way that can be understood by those interested in the operations and financial conditions.
external users
A business in which two or more persons combine their assets is called a(n)
going concern.
partnership.
Losses are limited to the owner’s investment.
an advantage to being an entrepreneur.
manufacturing business
entrepreneur.
Information is provided in a way that can be understood by those interested in the operations and financial conditions.
external users
Keeping the financial benefits of your hard work would be...
going concern.
partnership.
Losses are limited to the owner’s investment.
an advantage to being an entrepreneur.
manufacturing business
entrepreneur.
Information is provided in a way that can be understood by those interested in the operations and financial conditions.
external users
An example of an accounting assumption is a(n)
going concern.
partnership.
Losses are limited to the owner’s investment.
an advantage to being an entrepreneur.
manufacturing business
entrepreneur.
Information is provided in a way that can be understood by those interested in the operations and financial conditions.
external users
Financial accounting produces reports for
going concern.
partnership.
Losses are limited to the owner’s investment.
an advantage to being an entrepreneur.
manufacturing business
entrepreneur.
Information is provided in a way that can be understood by those interested in the operations and financial conditions.
external users
Which statement is true regarding why accounting called the “Universal Language of Business”?
going concern.
partnership.
Losses are limited to the owner’s investment.
an advantage to being an entrepreneur.
manufacturing business
entrepreneur.
Information is provided in a way that can be understood by those interested in the operations and financial conditions.
external users
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