BUS 251 Chapter Notes - Chapter 1: Legal Personality, Canada Revenue Agency, Financial Accounting

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 251
• Professor: Anne Mcdonald

Document Summary

Included in annual report together with (cid:373)a(cid:374)age(cid:373)e(cid:374)t"s discussio(cid:374) a(cid:374)d a(cid:374)alysis (cid:894)md&a(cid:895) Individual shareholders assess whether the current board of directors have effectively carried out their oversight role: creditors, financial institutions (banks and credit unions) lend money to generate a return on these loans in the form of interest. No, personal assets of owner are at risk in the event of legal action. No, pa(cid:396)t(cid:374)e(cid:396)"s pe(cid:396)so(cid:374)al assets are at risk in the even of legal action. Yes, personal assets of shareholders are not at risk in the even of legal action against company. What are three categories of business activities: financing activities. What are examples of investing activities: repaying loan principal, paying dividends. Inflows: proceeds from the sale of property, plant, and equipment, proceeds from the sale of shares of other companies. Outflows: purchase of property, plant and equipment, purchase of shares of other companies.