Business Entity
This business entity is operated by two to twenty person
what is a partnership?
This piece of document provides proof of identify for the owner of a business
what is an identification card ?
This involves conducting a research to identify the consumer needs
what is a market research?
Tangible and intangible items owned by the business
what is assets?
This principle states that the business should use the same approach over a period of time when recording transactions
what is consistency?
This type of business entity benefits from limited liabilities
what is a company?
These are standard set by an international organization which guides the operation of a company
What is ISO standards?
A section of the feasibility study that focuses on the strengths of the entrepreneur
what is a personality feasibility?
fill in the blank the accounting equation is
assets= ___________ + capital
what is liabilities?
This concepts states that all assets are to be recorded at original cost
what is accounting cost ?
This type of business entity benefits from the guidance offered by the parent company
what is a franchise?
This document is used to registered a company
what is articles of incorporation?
This element of a market research gives a description of the product or idea the company is offering
what is product characteristic ?
calculate the missing figure
assets Liabilities Capital
__________ 150,000 200,000
what is 350,000?
This concepts states that revenue is not to be recorded unless it is realize
what is realization?
This type of business structure dies with the owner
what is a sole trade?
This standard guides in the production process and ensure that food produce by companies are safe for consumption
what is HACCP?
This section of a feasibility study deals with the financial aspect of the business
what is financial feasibility?
calculate the missing figures
Assets liabilities capital
250,000 ______ 100,00
what is 150,000?
This concept states that all accounting information should be recorded twice
what is dual aspect?
This business structure is a hybrid between a partnership and a company
what is a limited liability company?
This law speaks to the way in which employees are treated in the work place
what is the labour laws?
This study text the viability of a business idea
what is feasibility study ?
This is stage of the financial statement are prepared
what is stage seven ?
This concept states that all accounting information recoded must be free bias
what is objectivity?