Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 1 - Introduction to Financial Statements - Do it! - Review: 1-1

Answer

a) Corporation b) Corporation c) Sole Proprietorship d) Sole Proprietorship and Partnership e) Corporation

Work Step by Step

a) Buying and selling shares makes it easier to transfer ownership in a corporation. b) It is easier for a corporation to raise funds because stockholders can invest small amounts of money by buying stock. c) A sole proprietor can make all the decisions about the business they own. d) Corporations generally receive less favorable tax treatment. e) Stockholders of a corporation do not have personal liability for debts or actions of the corporation.
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