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What are the two-basic test of survival of a business

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Reference no: EM133078608

Questions - Business and Accounting

1. What are the two-basic test of survival of a business?

2. What is the primary objective of business?

3. When is a business solvent and when it is insolvent?

4. What are the three types of business enterprise?

5. What are the three forms of business ownership?

6. What are the advantages of a corporation over a sole proprietorship or partnership?

7. What are the two definitions of accounting?

8. Accounting is sometimes referred to as the "language of business". Why?

9. What is the major difference between bookkeeping and accounting?

10. Can a business continue to operate without the proper accounting information system?

11. Who are the users of financial statement and other financial information?

Reference no: EM133078608

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