Forms of business organizations

/in /by

1. a)What is the difference between the following forms of business organizations?

 

b)What is the difference in accounting for these three forms in a business organization?

(a)proprietorship, (b) partnership, and (c) corporation.

 

2. Describe the Managerial Accounting and the role of Managerial Accounting in a
business. Please provide definition and example of direct cost, indirect cost, product
cost and period cost.