A business that enjoys limited liability is a（）
A. proprietorship
B. partnership
C. corporation
D. sole proprietorship
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The left side of an account is（）
A. blank
B. a description of the account
C. the debit side
D. the balance of the account
Which of the following would be considered an external user of accounting data for the Raintree Company（）
A. Internal Revenue Service Agent
B. Vice-president of finance
C. Production supervisor
D. Cost accountant
A problem with the monetary unit assumption is that（）
A. the dollar has not been stable over time
B. the dollar has been stable over time
C. the dollar is a common medium of exchange
D. it is impossible to account for international transactions
GAAP stands for（）
A. Generally Accepted Auditing Procedures
B. Generally Accepted Accounting Principles
C. Generally Accepted Auditing Principles
D. Generally Accepted Accounting Procedures
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