Answer:
1. A business name is your business's legal name. It is the official name of the person or entity that owns a company. And, it's the name you use on your government forms and business paperwork.
2. Review common business structures
Sole proprietorship. A sole proprietorship is easy to form and gives you complete control of your business. ...
Partnership. Partnerships are the simplest structure for two or more people to own a business together. ...
Limited liability company (LLC) ...
Corporation. ...
Cooperative.
3. A product is a tangible item that is put on the market for acquisition, attention, or consumption, while a service is an intangible item, which arises from the output of one or more individuals.
Answer: a)$300,000
Explanation:
Stockholders Equity shows just how much of the company is being financed by the shareholders. It is calculated by,
Total Stockholders Equity for the Year = Issued and Outstanding Shares + Retained Earnings - Treasury Stock
Retained Earnings = Opening Retained Earnings + Net Income - Dividends
First year of operation so no Opening Retained Earnings.
= $0 + 60,000 - $30,000
= $30,000
Total Stockholders Equity for the Year = (40,000* $8) + $30,000 - (5,000 * 10)
= 320,000 + 30,000 - 50,000
= $300,000
Answer:
a balance sheet is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, a private limited company, or other organizations such as government or not-for-profit entity.
Explanation:
hope you have a good day!!
An account is defined as a record of the business activities related to a particular item. The given statement is true.
Business activities can be divided into three categories: operating, investing, and financing. The cash flow statement includes a list of the cash flows that were generated and used by each of these operations. Net income on an accrual basis is supposed to be reconciled to cash flow in the cash flow statement.
Manufacturing, storage, accounting, sales, mergers and acquisitions, the issue of securities, etc. are some examples of business activities. The prompt completion of these tasks enables the businesses to survive and compete in the market.
Learn more about business activities here
brainly.com/question/7924898
#SPJ4
