Describe the effects damage estimates would have on the financial statements of a corporation and a partnership How do disclosure requirements differ from a corporation to a partnership and what information is required Are the shareholders at risk for any personal liability with the company set up ...

The Damage estimates shall have an impact on the financial statements of a corporation and partnersh ...

Describe the effects damage estimates would have on the financial statements of a corporation and a partnership?

Question:

Describe the effects damage estimates would have on the of a and a How do disclosure requirements differ from a to a and what information is required? Are the shareholders at risk for any personal liability with the company set up as corporations? If the Kroger Company was set up as a would the partners be at risk for personal liability?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...