Which for of business organization limits the liability of owners
9.Which for of business organization limits the liability of owners?
10. Rogue industries reported the following items for the current year. Sales=$3,000,000;Cost of goods sold=$1,500,000;Depreciation expense=$170,000;Administrative Expenses=$30,000;Marketing Expenses=$80,000;and Taxes=$300,000. What is Rogue’s gross profit?
11.A corporation has annual sales of $18 million, total assets of $4 million, a debt ratio of 40%, depreciation expense of $200,000, and tax rate of 40%. What is the corporation’s total stockholder’s equity?
12. Generally accepted accounting principles (GAAP) require finance statements prepared on a cash basis because these statements are most useful for investors and managers. True or False
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