The Balance Sheet of a Sole Proprietorship Will Report Two

question 85

True/False

The balance sheet of a sole proprietorship will report two equity accounts: one for amounts contributed by the owner,and one for the earnings of the business.

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Definitions:

Right-to-Work Laws

Statutes in some U.S. states that prohibit union security agreements, allowing employees to choose whether or not to join or financially support a union.

Industrial Relations School

A perspective or academic discipline focusing on the study of employment relationships, labor laws, and collective bargaining processes.

Taft-Hartley Act

A 1947 US federal law that restricts the activities and power of labor unions, formally known as the Labor Management Relations Act.

Government Regulation

The imposition of rules by government, backed by the use of penalties that are intended to modify the economic behavior of individuals and firms in the private sector.