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Do It! Review 1-1 Identify each of the following organizational characteristics with the organizational form or forms with which it is associated. (a) Easier to transfer ownership b) Easier to raise funds (e) More owner control (d) Tax advantages. (e) No personal legal lisbility. Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 3 used SAVE FOR LATER SUBHET ANSWER Question Attempts: 0 of 3 used savE FOR LATER
Do It! Review 1-2 Classify each item as an asset, liability, common stock, revenue, or expense. (a)Issuance of ownership shares. b)Land purchased c) Amounts owed to suppliers (a) Bonds payable (e) Amount earmed from selling a product. () Cost of advertising Click if you would like to Show Work for this questioni Open Show Work Question Attempts: 0 of 3 used SAVE FOR LATER
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Answer #1

Review 1-1:

(a) Easier to transfer ownership Corporate
(b) Easier to raise funds Corporate
(c) More owner control Sole proprietor
(d) Tax advantages Sole proprietorship, Partnership
(e) No personal legal liability Corporation

Review 1-2:

(a) Issuance of ownership shares Common stock
(b) Land purchased Asset
(c) Amounts owed to suppliers Liability
(d) Bonds payable Liability
(e) Amount earned from selling a product Revenue
(f) Cost of advertising Expense
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