John Contributed $6,000 Cash to a Sole Proprietorship by Opening

question 52

True/False

John contributed $6,000 cash to a sole proprietorship by opening a bank account in the name of the business,United Marketing.John received capital in the business in exchange.This transaction results in an increase in the assets of the business.

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Definitions:

Zoning

Regulations governing the use and development of land to shape urban growth and land use.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances, leading to damages or injury.

Statistical Tabulating

A process used in data analysis that involves organizing and summarizing data into useful tables which help in understanding the underlying patterns.

Surveyors

Professionals who assess and measure land, property, and construction projects to determine boundaries, dimensions, and the topographical makeup of an area.