ACC290 UPDATED Exam Questions and CORRECT Answers
Three main forms of business Sole proprietorship, Partnership, Corporation Advantage of Corporations over Partnerships or Sole proprietorships Reduced legal liability for investors Sarbanes-Oxley Act An act passed into law by Congress in 2002 to establish strict accounting and reporting rules in order to make senior managers more accountable and to improve and maintain investor confidence Annual report A report prepared by corporate management that presents financial information including financial statements, notes, a management discussion and analysis section, and an independent auditor's report
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