I believe the answer would be “B. Decrease” apologies if it’s incorrect!
Dec 31 Management Services ....................................$1875
To Prepaid Expenses.....................................................$1875
(Being prepaid expenses recognised for the year)
The correct answer is B.
The interviewer will be taking notes with recommendations for the next person in the process, since the interviewer won't be the sole person making the rejection/acceptance decision.
For a Profit Organization:
1. Select the best business structure which favors you in taxes and protect. Such as corporation, limited liability company, sole proprietorship, general partnership, limited partnerships or a professional incorporation.
2. Decide the name you want to use to advertise your business.
3. Register company name with the state, county and the federal if applicable.
4. Check licensing requirements with the city county, city, state and federal.
5. Open a bank account
6. Advertising and Marketing
For a Non Profit Organization:
1. There are two types of non profit organizations religious and good cause.
2. It has to be registered wither with the state or county, depending upon the structure and the state you want to incorporate.
3. Apply with the federal to obtain a tax exempt status, so that your donors can claim donations on their tax returns.
4. Open a bank account
5. Delegate duties what you have mentioned in the article you submitted to the Internal Revenue Service.
