Which for of business organization limits the liability of owners

Which for of business organization limits the liability of owners

9.Which for of business organization limits the liability of owners?

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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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