Describe the accounting information that goes on an Income Statement and Balance Sheet.

Discussion Question 1
(15 points)

o
Prompt: Describe the three forms of business organization. Be sure to include the

advantages and disadvantages of each. What is
the difference between a general

and limited partnership?

o
Requirement: 150 words minimum initial post

•
Discussion Question 2
(15 points)

o
Prompt: Describe the accounting information that goes on an Income Statement

and Balance Sheet. Include how each financ
ial statement is developed. Why is

each important to a business?

o
Requirement: 150 words minimum initial post

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