Accounting: Chapter 1 Review

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Generally Accepted Accounting Principles (GAAP) are currently formulated by the

Financial Accounting Standards Board (FASB)

What type of business organization is owned by only one owner?

sole proprietorship

Which of the following characteristics best describes a corporation?

stockholders not personally liable for entity's debts


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