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Which of the business organisation has a separate legal

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Reference no: EM132761274

Problem 1: Which of these business organisation has a separate legal entity from its owners and the owners are NOT liable for the debts of the business?

a) Sole Proprietorship
b) Partnership
c) Private limited company
d) All of the above

Problem 2: Mariah has returned goods which she purchased on credit. What journal entry should Mariah make in her accounts?

a) Debit Trade Payable; Credit Purchase Return
b) Debit Purchase Return; Credit Trade Payable
c) Debit Trade Payable; Credit Sales Return
d) Debit Purchase; Credit Trade Payable

Reference no: EM132761274

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