accounting Q

Q1- Describe the role that accounting plays in the management of a business.

Q2- Describe the owner’s legal liability and the taxation of in-come in the following forms of business: corporation, pro-proctorship and partnership.

Q3- Explain the difference between a public corporation and a private corporation..

Q4- Identify at least three major users of corporate financial statements, and briefly state how these users might use the information from the statements.

Q5- How do the activities that are considered to be operating activities differ from those considered to be financing.

Q6-Would we normally expect a company to have an overall inflow or an overall outflow of cash from its operating activities? Explain why.