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