Describe the Characteristics of Virtues

question 17

Essay

Describe the characteristics of virtues.

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Definitions:

Sole Proprietorship

Sole Proprietorship is a business structure owned and operated by one individual, where there is no legal distinction between the owner and the business.

Legal Entities

Entities recognized by law that have rights and responsibilities, such as corporations, partnerships, and sole proprietorships.

Accounting Entities

Organizations, businesses, or units for which separate financial statements are prepared, distinct from any other economic activities.

Generally Accepted Accounting Principles

A standard framework of guidelines for financial accounting that includes the details, complexities, and legalities of business and corporate accounting.