Textbook Notes (368,317)
Canada (161,798)
Accounting (533)
ACC 100 (214)
Else Grech (70)
Chapter 1

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Department
Accounting
Course
ACC 100
Professor
Else Grech
Semester
Summer

Description
Chapter 1 Organization A collection of individuals pursuing the same goal or objective Sole proprietorship A business with a single ownerEconomic entity concept The assumption that a single identifiable unit must be accounted for in all situations Partnership A business owned by two or more individuals and with the characteristic of unlimited liabilityCorporation A form of entity organized under the laws of a particular province or the federal government ownership evidenced by sharesShare A certificate that acts as ownership in a corporationBond A certificate that represents a corporations promise to
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