Discuss the Advantages and Disadvantages of Corporations

question 70

Essay

Discuss the advantages and disadvantages of corporations.

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Definitions:

Bookkeeping

Bookkeeping is the systematic recording, organizing, and maintaining of financial transactions for a business or individual.

Profit and Loss

Profit and Loss, often referred to as P&L, is a financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time, usually a fiscal quarter or year.

Accounting Reports

Documents that give insights into the financial performance of a business, including trial balances, profit and loss statements, and balance sheets.

List Management

The organization, maintenance, and manipulation of lists within software applications, such as customer lists, inventory lists, or account lists.