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Popular Accounting Topics

Accounting for Merchandising Activities
Debits and Credits (Double Entry Accounting)
Time Value of Money & Present/Future Values
Complex Debt & Equity Instruments
Common Stock & Shareholder's Equity
Accounting & Finance Ratios
Valuing Common Stock
Corporate Income Taxes
Lower of Cost or Market (LCM) & Inventory Valuation
Chart of Accounts & Bookkeeping
Bonds Payable & Long Term Liabilities
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Sole Proprietorship

• A business owned by one person.
• The most common form of ownership in our economy.
• E.g stores, farms, service businesses.
• From an accounting viewpoint, it is a business entity separate from the affairs of the owner.
• From a legal standpoint, they are not separate entities and the owner is personally liable for the debts of a business.
• If the business fails, creditors may force the owner to sell personal assets to pay off debts.

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