1. Introduction to Accounting

A corporation is created by obtaining a charter from:

Which of the following is a key factor in understanding opportunity and its development for entrepreneurs?

Which type of business organization is primarily involved in developing products for distribution from raw goods?

Which term best describes the process of planning, staffing, leading, and organizing employees within a business organization?

Which type of business organization leases its trade name and operating system to another person or entity?

Which type of business organization is owned by a single individual?

Which of the following is one of the requirements for a partnership arrangement?

If two attorneys operate their practice as a partnership, which of the following statements is correct regarding their business organization?

Which of the following is an advantage Doug should expect by sharing ownership with others in a business organization?

Caleb and Anna have started a business together, sharing both profits and losses equally, and have not filed any formal paperwork with the state. What type of business organization are they most likely operating under?

Limited liability and ease of raising outside capital are advantages of which form of business organization?

Which section of a business plan typically provides a description of the business, including its mission, products or services, and objectives?

You are considering opening a small flower store. Which form of business organization would provide you with the simplest setup and the least regulatory requirements?

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

Which type of business organization is characterized by both single taxation and limited liability for all its owners?