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Accounting 201 Exam 1|46 Questions And Answers
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Sole Proprietorship - ️️business owned by one person simple to establish owner controlled tax advantages owner personally liable financially difficult Partnership - ️️2 or more owners simple to establish shared control broader skills and resources tax advantages personally liable Corporation - ️️separate legal entity owned by stockholders easy to transfer ownership greater capital raising potential unfavorable tax treatment lower legal liabilities for owners Internal Users of Financial Info - ️️Managers -Finance borrow $ or issue stock? -Marketing advertising costs -HR hire or lay off ppl? -Management expand busi? sell off parts?
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