Accounting 200 Review for Exam 1 Chapter 1: 1. Forms of Business Organizations: a. Sole Proprietorship i. Business owned by a single person ii. Ex. If you want to start a business without outside investors b. Partnership iii. Business owned by two or more persons iv. Ex. If you want to start a business with a friend you can form a partnership c. Corporation v. Completely different from proprietorship or partnership
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Chintan S. Jain |307 / B – 2, Jay Radheshyam CHS, | | |Dr. R. P. Road, |+91 9819635698 / 8879575482 | |Dombivli (E) |chintanjain15@gmail.com | OBJECTIVE:- To be a part
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focusing on the creation of a general partnership. A general partnership is one of the simplest forms of business to create because all it really takes is an agreement to form between two or more individuals and that is it. No complex documents to submit, no issuance of private stock, no bylaws or need for a board of directors. Its simplicity is a general partnerships' biggest assets although it is not its only one. Another big benefit to the general partnership is the pass through of tax liability
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Early Accounting * Accountancy has its roots in the earliest history of civilization. With the rise of agriculture and trade, people needed a way to keep track of their goods and of transactions. Around 7500 B.C., Mesopotamians began using clay tokens to represent goods, such as animals, tools, food items or units of grain. This helped owners keep track of their property. Instead of counting heads of cattle or bushels of grain every time one was consumed or traded, people could simply add or
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University of Houston Department of Accountancy & Taxation ACCOUNTING 4330/5330/7330 ADVANCED ACCOUNTING Fall 2012 Instructor: Dr. George O. Gamble Office: 370 G Melcher Hall Office Hours: M 1:00-2:00; T&TH 4:30- 5:30 and by appointment COURSE PREREQUISITES You must have junior standing and have passed ACCT 3368 with a minimum grade of C to be enrolled in this class. In addition, you are expected to have a working knowledge of computer spreadsheets, such as Lotus or Excel, as
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Running head: SMALL BUSINESS IDEA PAPER 1 Small Business Idea Paper Napoleon Melton, Jr. ACC/561 September 5, 2011 James Sullivan SMALL BUSINESS IDEA PAPER 2 Small Business Idea Paper Establishing a small business requires the cultivation of a business idea to a business plan that successfully outlines its unique product or service, the rationale for choosing the business organization in particular for the unique product or service, and the financial statements & implications associated
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1. | Sole proprietorships and partnerships are taxable entities. | | | | | True | | | False | | | | Score: 0 of 1 | | 2. | Internal users of accounting information include a company’s investors (or stockholders). | | | | | True | | | False | | | | Score: 1 of 1 | | 3. | Interest expense would be classified under operating activities. | | | | | True | | | False | | | | Score: 1 of 1 | | 4. | The balance sheet reports assets and
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John Doe 12345 ABC st johndoe@gmail. Los Angeles, CA 12345 (123)456-7890 Skills and training in: Accounting and Management Objective To exercise my acquired skills in an accounting position and to sharpen my skills by attaining my MBA in the near future. Qualification summary Administration professional with work experience in a fast paced environment, demonstrated exceptional organizational, technical and interpersonal
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Small Business Plan September 20, 2011 Accounting 561 Being able to have a small business that is important to the community is the ultimate goal for my company. Providing lost cost party and wedding planning is goal of Sia’s Supreme Planning. Deciding on the best business form out of sole proprietorship, partnership, “C” corporation, and “S” corporation are the first step in building a lucrative company. Once the business organization has been decided, we have to decide on the best financial
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Fraud is a serious problem for most businesses today and often technology compounds the problem. In addition, the role of the independent auditor in the detection of fraud is often questioned. (http://www.swlearning.com/accounting/hall/ais_4e/study_notes/ch03.pdf) Fraud is dishonest activity causing actual or potential financial loss to any person or entity including theft of money or other property by employees or persons and where deception is used at the time, immediately before or immediately
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