Briefly explain each:

1. What type of business organization is it (proprietorship, partnership, corporation)? How do you know? Explain.

2. What types of products or services does it sell? When was the company founded? Approximately how many employees work at the company?

3. What is the company's fiscal year-end for these financial statements?

4. For how many comparative years does the company present complete balance sheets? Income statements? Cash flow statements? Which GAAP qualitative characteristic do you think this represents {refer to Module 2, Chapter 1: Introduction to Financial Accounting, pages 5-8}?

5. Are its current year financial statements audited by independent CPAs? If so, by whom, and where and when was the audit report signed/dated?

REFERENCE:

https://investor.toromont.com/static-files/9559dfe6-8782-4796-af9c-3d93c69c1ed8