Noah and Orin Do Business as Pest Control Partners

question 32

Multiple Choice

Noah and Orin do business as Pest Control Partners.In most states,for the purposes of suing and being sued,Pest Control Partners would be treated as

• A)an aggregate of the individual partners.
• B)a natural person.
• C)an entity.
• D)a non-existent party.

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Definitions:

Financial Accounting

The field of accounting that focuses on preparing financial statements for external users, such as investors, creditors, and regulatory agencies.

External Users

Individuals or entities outside a company, such as investors, creditors, regulators, and customers, who use its financial information for making decisions.

External Auditing

The examination of financial records and statements by an independent third party, to ensure accuracy and adherence to accounting standards.

Private Accountant

An accountant employed by a single firm, business, or organization to handle its internal financial matters.