FIN 300 Lecture Notes - Lecture 2: Accounts Receivable, Income Statement, Earnings Before Interest And Taxes

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General partnership: all general partners have unlimited liability. Limited partnership: a partnership with two kinds of owners, general partners (have same rights and priveleges as partners in any general partnership) and limited partners (limited liability i. e their liability is limited to their investment) Limited liability partnership (llp: used in canada for law and accounting firms, provides partial limitation of a partner"s liability, corporations, a corporation is a business form that is a legally defined, artificial being, separate from its owners. Pg 51/52 good place to start for 8 x11. 5 cheat sheet*** Current assets: cash and other marketable securities (short term, low risk investments/ easily sold and converted to cash, accounts receivable (amounts owed to a firm by customers who have purchased goods or services on credit) Inventories (raw materials, work in progress, finished goods: other (include items such as prepaid expenses) (3. 6 million shares) x (/share) = 36 million.

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