For the rest of the semester
Week ending in November 12 DB
Contribution margin is a products price all associated variable cost= incremental
profit earned for each unit. This calculation represents the total earnings available
to pay for fi
1.Buying equipment for cash affects which account/ accounts?
a. Cash only
b. Retained earnings only
c. Equipment and retained earnings
d. Cash and equipment
2.The payment of a liability:
a. decreases assets and stockh
A. (20 points)
1.An entity that is organized according to state or federal statutes and in which ownership is divided into shares
of stock is a:
d. governmental unit.
When I started accounting at the beginning of the semester I did not know
anything other than the fact it is a crucial part of a business. Now, I understand that
accounting is more than just a department in a company and that it can be
Name and describe the three forms of businesses and their advantages and disadvantages (if any).
1. Sole Proprietorships
i. Receive all profits
ii. Easy to start and end the business
iii. And you are your ow