HM1030: Week 1 Assignment B
This assignment helps you apply your knowledge from this week’s modules
and readings.
Knowledge Check Questions
Answer the following questions, (choose only one answer per question unless directed otherwise).
1. Which of the following types of businesses is owned by stockholders?
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proprietorship
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corporation
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partnership with more than ten partners
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partnership with only two partners
2 An increase or decrease in any asset, liability, owner’s equity, revenue, or expense is always
accompanied by an offsetting change within the basic accounting elements.
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a credit side.
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a debit side.
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