This is a draft cheat sheet. It is a work in progress and is not finished yet.
Organizational Forms
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Sole Proprietorship One person liable for all debts.
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Partnership Two or more people liable for all debts.
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Corporation Separate legal entity. Owners not personally liable for debts. (Private/Public)
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Types of Accounting
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Acctg A system of analysing, recording, summarising and reporting the results of a business's activities
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Fin. Acctg Periodically prepared financial statements for external users to evaluate the company
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Mgr. Acctg Strategically prepared financial reports for internal users to make business decisions
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