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Author Question: The _____ reports the financial position of a firm by identifying and reporting the value of the ... (Read 121 times)

faduma

  • Hero Member
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  • Posts: 528
on: Jul 14, 2018
The _____ reports the financial position of a firm by identifying and reporting the value of the firm's assets, liabilities, and owners' equity.
 A) balance sheet
  B) profit and loss statement
  C) statement of retained earnings
  D) statement of cash flows

Question 2

Judy Barnes, Betty Turley, and Bob Turner want to obtain limited liability for their business, but they want to avoid double taxation. Which type of business ownership would you recommend?
 A) Regular corporation
  B) General partnership
  C) Sole proprietorship
  D) S-corporation
  E) Not-for-profit corporation


jaaaaaaa

  • Sr. Member
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  • Posts: 341
Reply #1 on: Jul 14, 2018
Answer to Question 1

A

Answer to Question 2

D


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