Identify the appropriate accounting concepts for the situations below: i. A business financial performance is recorded and reported separately from the
owner's personal financial matters.
ii. In accounting, a business is expected to continue for a foreseeable future. It is assumed that the business has neither the intention nor the need to liquidate.
iii. Only business transactions that can be expressed in terms of money are recorded in accounting, though records of other types of transactions may be kept separately.
iv. Revenues are recognised when they are earned and not when they are
received in cash.
v. Purchases of items like pen, stapler, and punching machine for business use is not recorded as assets, but treated as expenses.
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What are the main advantages and disadvantages of organizing a firm as a c corporation? the advantages are: (select all the choices that apply.) a. there is no limit on the number of owners a c corporation may have, thus allowing the corporation to raise substantial amounts of capital. b. the life of the business can continue beyond the death of any of the owners. c. the corporation can use the assets of the owners to pay for corporate liabilities. this attracts smaller investors to the corporation. d. the liability of the owners is limited to the amount of their investment in the firm. the disadvantages are: (select all the choices that apply.) a. income to a c corporation is subject to double taxation, once at the corporate level and again when received by the owners in the form of a dividend. b. the life of the business usually ends with the death of any of the owners. c. the c corporation is more complicated and more expensive to set up than other business entities. d. corporate liabilities can be passed on to the share

Any point on a country's production possibilities frontier represents a combination of two goods that an economy:

Kelso electric is debating between a leveraged and an unleveraged capital structure. the all equity capital structure would consist of 40,000 shares of stock. the debt and equity option would consist of 25,000 shares of stock plus $280,000 of debt with an interest rate of 7 percent. what is the break-even level of earnings before interest and taxes between these two options?