Types of Businesses
Forms of Business Ownership
The 5 Main Accounting Activities
Users of Accounting Information
Random Stuff! :D
100
A medical clinic is an example of a ____ business.
service
100
A business owned by one person is a _______ ?
Sole proprietorship
100
Gathering ____ Information.
financial
100
Banks "might use financial information to see if a company should be given ..."
a loan
100
Those accountants who test a firm's records and procedures for accuracy are called _____.
Auditors
200
A non-profit business uses its profit to provide a _____ _ _____.
benefit to society
200
Shareholders are the owners of a ______.
Corporation
200
Preparing and collecting ______ records.
permanent
200
Government "might use financial information to see if a company should be given ..."
taxes payable
200
A ____ ____ is the amount of time required to complete the accounting cycle.
fiscal period
300
A merchandising business buys raw goods and makes them into something new (True/False)?
False
300
A business with more than one owner is called a ______.
Partnership
300
_______, Summarizing and Classifying.
Rearranging
300
Investors "might use financial information to see if a company should be given ..."
an investment
300
The work of an accountant requires more _____ and experience than that of an accounting clerk.
education
400
A store that makes and sells baked goods is an example of what two types of businesses?
Merchandising and Manufacturing
400
A business called "Sandwiches Ltd" is a ________.
corporation
400
Preparing ___ reports and summaries.
information
400
Owners "might use financial information to see if their business is ..."
making a profit
400
An accounting clerk is also known as a ________.
bookkeeper
500
A spa that sells haircuts and shampoo is an example of what two types of businesses?
Merchandising and Service
500
A business called "M.Loxterkamp, Teacher" is an example of a __________.
Sole Proprietorship
500
Establishing controls to promote accuracy and ______ amongst employees.
honesty
500
One reason that a union might want to see a company's financial informationn is to ...
support demand for a pay raise
500
Accounting is one of the fastest growing professions because of ...
increasingly complex government regulations
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