Multiple Choice
Which of the following statements is TRUE for a proprietorship?
A) Legally,a proprietorship is separate from the proprietor.
B) For accounting purposes,a proprietorship is separate from the proprietor.
C) For accounting purposes,a proprietorship is not separate from the proprietor.
D) A and B
Correct Answer:
Verified
Correct Answer:
Verified
Q8: All of the following are expenses EXCEPT
Q90: An investor,wishing to assess the reasons for
Q115: The _ factor recognizes that while certain
Q117: When analyzing a company's income statement,a fact
Q119: The principle stating that assets acquired by
Q123: The net income shown on the income
Q125: Wetzel Company has the following accounts and
Q127: If a company prepares its financial statements
Q183: Cash dividends declared:<br>A)decrease revenue on the income
Q185: What is an accounts payable?<br>A)It is a