Owners’ Equity and Different Forms of Business
1. If you were to start up your own business (or if you already have), which form of business would you likely choose? Explain why you would make that choice, incorporating the advantages and disadvantages of that form of business as discussed in your text and how those would influence your decision. 2. What impact do you think the form of business has on the company’s accounting, including the presentation of equity accounts in the financial statements?