Sam Clark Has a Custom Cheesecake Business That He Owns

question 230

Short Answer

Sam Clark has a custom cheesecake business that he owns and operates out of his home. Sam's ownership structure likely is
a franchise.
a limited partnership.
a partnership.
a corporation.
a sole proprietorship.

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Definitions:

Voucher Journal

A record that details every financial transaction of a business, paired with the documentation that supports the transaction as a part of the accounting system.

Voucher System

A control mechanism in accounting that ensures all purchases and expenditures are properly authorized before payment is made.

Petty Cash Fund

A small amount of cash kept on hand for minor or incidental expenses.

Voucher System

A control mechanism in accounting that involves authorization and documentation before a financial transaction is made.