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CH5-8 Discusion accountiong 1 Let's s start a new small business selling Masks during Covid: How should you structure your business? (i.e., corporation, LLC, sole
CH5-8 Discusion accountiong 1
Let's s start a new small business selling Masks during Covid:
- How should you structure your business? (i.e., corporation, LLC, sole Propertiship ) and why?
- Do you need inventory for this business? Why?
- What inventory system you will use? FIFO, LIFO, or weighted average? why?
- What accounting system will You use Cash basis Or Accrual and why?
- How would you account for Gross profit? Net Income?
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