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What are the advantages of forming a business as a corporation? Forming as a sole proprietorship or partnership? Describe the content and purpose of each
- What are the advantages of forming a business as a corporation? Forming as a sole proprietorship or partnership?
- Describe the content and purpose of each of the financial statements.
- Explain the meaning of assets, liabilities, and stockholders' equity, and state the basic accounting equation.
- Identify the three main categories of the statement of cash flows including examples. Why do you think these categories were chosen?
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