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4 Cards in this Set
- Front
- Back
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(T/F) Owners of a corporation are personally liable for the debts of the corporation |
False |
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(T/F) Accounting is the information system that measures business activities, processes that information into reports, and communicates the results to decision makers |
True |
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(T/F) Financial statements report financial information about a business entity to decision makers |
True |
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(T/F) The purpose of financial accounting is to provide information to people outside of the entity, such as investors and creditors |
True. |
