3. Business organization in which owners have unlimited personal liability for the actions of the business?

4. Type of business entity that is owned and run by one individual and in which there is no legal distinction between the owner and the business

5. It is a firm or business held under private ownership?

6. A corporation wherein the ownership is dispensed to general public shareholders

7. One of the users of financial statement that need information for planning, policy making and evalution?

8. One of the users of financial statement that need information about the liquidity of business in order to access the ability the amount owed by them?

9. One of the users of financial statement that need information about the profitability and solvency of the business in order to determine the risks and interest rate of loan?

10. One of the users of financial statement that need information about the profitability, dividend yield and price earnings ratio in order to assess the quality and the price shares of a company?

11. One of the users of financial statement that need information about the trends and recent development?

12. One of the users of financial statement that need information about various businesses for statistics and formulation of economic plan?

13. One of the users of financial statement interested in long term stability of the business and continuance of supply of the particular product?

14. One of the users of financial statement interested in the stability of the business to provide employment, fringe benefits and promotionopportunities?

15. it is a type of accounting concept that all transaction of the business are recordedin terms of money

16. it is a type of accounting concept that a business firm will continue to carry on its activities for an indefinite period of time?

17. it is a type of accounting concept that every business entity has continuity of life?

18. it is a type of accounting concept that indefinite life of business is divided into two parts?

19. it is a type of accounting concept that for accounting purposes, the business enterprises and its owner separate independent entities?

20. Is a merchandising company that sells goods to its buyer?

21. Is merchandising company that sells goods directly to its buyer?

22. This type of business buys finished or almost finished goods from their suppliers and resell the same to the consumers?

23. This type of company buy materials, convert to product, and then sell the products to other companies or to the consumers?

24. This type of company are referred to as resellers or retailers since they are in the business of reselling a product to the consumer at a profit.

25. It is the type of company that generally use their employees to provive intangible product or services to customers?

2. It is a voluntry association of people who contribute money to carry on business?