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WorksheetsFundamentals of ABM 2 (Quiz 2)
Total questions: 9
Worksheet time: 9mins
All are forms of Organization except for one
Corporation
Partnership
Sole Proprietorship
Manufacturing
An entity whose assets, liabilities, income and expenses are centered or owned by itself being a legally separate entity from its owners.
Corporation
Partnership
Sole Proprietorship
Manufacturing
Increases to owner’s equity by adding investments by the owner
Initial Investments
Withdrawals
Income
Additional Investments
The very first investment of the owner to the company
Initial Investments
Withdrawals
Income
Additional Investments
Which form of business organization puts the least risk on its owners?
Corporation
Partnership
Sole Proprietorship
Manufacturing
Decreases to owner’s equity apart from net effect of revenues and expenses
Income
Profit
Loss
Investments
Increases in owner’s equity without additional investment
Income
Profit
Loss
Investments
Which form of business organization is owned by only one person?
Corporation
Partnership
Sole Proprietorship
Manufacturing
Write down a sample heading of the Statement of Changes in Owner's Equity (2 Points)
