Ware the advantages of the corporate form of , Financial Accounting

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Ware the advantages of the corporate form of

1. What is the purpose of a business?

2. Is the goal of all organizations to make a profit?

3. Name the three types of activities that make up most business transactions.

4. What are the possible ownership structures for a business?

5. What are the advantages of the corporate form of ownership?

6. What are the disadvantages of the corporate form of ownership?

7. Who are some of the people in need of business information and for what purposes?

8. What is the relationship between the information available to a business and the infor mation provided in financial statements?

9. What are the basic financial statements? Describe the information that each provides.

10. What makes the income statement different from the statement of cash flows?

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