1) Explain how the equity section of a balance sheet differs among sole proprietorships,
partnerships and corporations.
2) Indicate which of the budgets and pro forma financial statements the given item
appears on by placing X’s in the appropriate column or columns.
Budgeted cash payments for interest
3) Give an example of a product cost for a retailing business.
4) What is a bond discount? What is a bond premium? How do they affect the interest
expense on bonds?
5) Who are the stakeholders for a business?