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What is range number of owners in private limited company

Assignment Help Financial Accounting
Reference no: EM132946394

Problem 1: Accounting is best described as _________________.

A. recording all financial transactions systematically.

B. recording all production costs and profitability of a business.

C. classifying, recording, summarising and intrepreting all financial transactions of a business.

D. recording all assets and liabilities of a business.

Problem 2: What is the range number of owners in private limited company?

A. 1 - 50

B. 2 - 20

C. 2 - 50

D. 1 - No limit

Problem 3: Which type of business organisation has the following characteristics:

Owned by 2 to 20 persons

Unlimited liability

No legal obligation to prepare the financial statements

A. Sole proprietorship

B. Partnership

C. Private limited company

D. Public limited company

Reference no: EM132946394

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