ACC561 ACC 561 WEEK 1 QUIZ (SCORE 100%) GUARANTEE - 75379

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  • From: Business, Algebra
  • Posted on: Mon 29 Sep, 2014
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Question. 1. The proprietorship form of business organization

combines the records of the business with the personal records of the owner

generally receives favorable tax treatment relative to a corporation

is classified as a separate legal entity

must have at least two owners in most states

Question 2.      Most business enterprises in the United States are

government units

proprietorships and partnerships



Question 3. A business organized as a separate legal entity is a




government unit.

Question 4. Which of the following is the best definition of an internal user of accounting information?

Creditors like banks that use accounting information to evaluate the risk of lending money

Investors who use accounting information to decide whether to buy or sell stock

Labor unions who use accounting information to examine the ability of the company to pay increased wages and benefits.

Managers who use accounting information to plan, organize, and ru