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 - Questions - Page 27: 1


Sole proprietorship, partnership, and corporation.

Work Step by Step

A sole proprietorship is an organization owned and controlled by one person, a partnership is owned by two or more individuals, and a corporation is a separate legal entity owned by stockholders.
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