A(n)_____ Is One Who Profits from a Business but Is

question 95

Multiple Choice

A(n) _____ is one who profits from a business but is not involved in its day-to-day operations.

• A)incubator
• B)absentee owner
• C)owner-manager
• D)franchisor

---

Definitions:

Work Sheet

A document used by accountants to prepare adjusting entries and to draft a company's financial statements.

Accounting Cycle

The accounting cycle is a step-by-step process of recording, classifying, and summarizing financial transactions of a business to provide an accurate picture of its financial position and performance.

Adjusting Entries

Documentation in accounting made at the termination of an accounting cycle to allot income and spending to the span in which they factually occurred.

Debit Total

The sum of all debit entries made in an account or ledger over a specific period.