Bob Johnson Is the Sole Stockholder of Johnson's Carpet Cleaning

question 184

Essay

Bob Johnson is the sole stockholder of Johnson's Carpet Cleaning Service. Bob purchased a personal automobile for $10,000 cash plus he took out a loan for $20,000 in his name. Describe how this transaction is related to the business entity concept.

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Definitions:

Enhances Belonging

Actions or factors that increase the feeling of being an accepted member of a community or group.

Human Relations

The interdisciplinary study focusing on the dynamics of individuals in groups and organizational settings, emphasizing interpersonal and social relationships.

Non-Work Elements

Components of a job or activity that are not directly related to the primary work tasks, often involving breaks, maintenance, or setup time.

Last Frontier

A term often used to describe the final area of exploration, development, or expansion in a specific field or geographical region.