Unformatted text preview: its owners. (Points: 1) Unlimited liability Continuity of existence Easy transfer of ownership Taxability as a separate entity 5. Which one of the following items found on a balance sheet is not a claim against an entity's resources? Hint: Remember what general classes of items constitute claims against resources. Also, consider what the term "resources" means. (Points: 1) Merchandise Inventory Notes Payable Accounts Payable Capital...
View Full Document
This note was uploaded on 06/20/2010 for the course FINA 6266 taught by Professor Burt during the Spring '10 term at University of Arkansas for Medical Sciences.
- Spring '10