Question

Question 34 (2.5 points) A(n) is a voluntary agreement under which two or more people act as co-owners of a business for profit vertical merger partnership acquisition Question 35 (2.5 points) The independent auditor's reports are prepared after conducting an annual external audit of the financial statements and are prepared in accordance with the statement of retained earnings income statement generally accepted accounting principles (G.A.A P) horizontal analysis Question 36 (2.5 points) is a guaranteed line of credit in which a bank makes a binding commitment to provide a business with funds up to a specified credit limit at any time during the term of the agreement. A term loan agreement A revolving credit agreement Trade credit Commercial paper

Answer 1

Ans:

34) partnership

Partnership is a formal agreement between two or more people to carry on a business for profit.

35) generally accepted accounting principles

Auditor's report provide users with the auditor's opinion as to whether or not the financial statements are fairly stated and are prepared in accordance with the generally accepted accounting principles.