Where Large Amounts of Capital Are Used, the Dominant Form

question 202

Multiple Choice

Where large amounts of capital are used, the dominant form of business organization is the

• A) corporation.
• B) partnership.
• C) proprietorship.
• D) partnership in manufacturing and the corporation in finance.

Identify the authoritative bodies and their roles in the development of accounting principles in the United States.

Comprehend the measurement and cost principles in accounting.

Recognize different business entities and their characteristics.

Distinguish between the types of businesses and their financial reporting requirements.