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Review Questions for Ch.1 ACT - Types of Businesses Balance...

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Types of  Businesses SRE SCF $ 100 $ 100 $ 100 $ 200 $ 200 $ 200 $ 300 $ 300 $ 300 $ 400 $ 400 $ 400 $ 500 IS $ 400 $ 100 $ 200 $ 300 $ 500 Balance  Sheet $ 100 $ 200 $ 300 $ 400 $ 500 $ 500 $ 500
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Types of Businesses - $100 A business with one owner who assumes  unlimited liability. What is a Sole Proprietorship? Back to Board
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Types of Businesses - $200 A business owned by two or more persons.   Each person often is personally liable for debts  of the business. What is a Partnership? Back to Board
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Types of Businesses - $300 A business that operates as separate from its  owners. Typically owners have limited liability. What is a Corporation? Back to Board
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Types of Businesses - $400 A business that has its stock bought and sold on  exchanges. What is a Public Company? Back to Board
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Types of Businesses - $500 A business in which ownership is transferred by  the private sale of stock. What is a Private Company? Back to Board
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Balance Sheet - $100 The basic accounting equation. What is Assets = Liabilities + Stockholders’  Equity?
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