A corporation is responsible for its actions and any debts incurred. It can enter into its own contracts, and it can buy, own, and sell property.
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Q8: External users include lenders such as banks,
Q9: Ownership of a corporation is divided into
Q10: Career opportunities in accounting include auditing, forensic
Q11: Accounting information helps people make better decisions
Q12: Sole proprietorships and partnerships are not subject
Q15: The main objective of accounting is to
Q16: Internal users include creditors, shareholders, internal auditors
Q17: In the partnership form of business, the
Q18: Accounting is an information system that identifies,
Q24: A sole proprietorship is a business owned
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