What are the forms of business organization? A. Sole Proprietorship and Partnership B. Corporation C. LLC D. All the above

What is a current asset? A. Land B. Something that can be turned into cash within a 12 month period C. Cash on hand D. How quickly an asset can be turned into cash

Measures the ability of a firm to turn a sales revenue into a profit A. Gross profit B. Net loss C. Profit margin D. Inventory

This form reports revenues and expenses of a business and weather there has been a net income or net loss for the period recorded. A. Balance sheet B. Income statement C. Multiple-step income statement D. None of the above