Question: International companies with Ltd or S A after their name are
“International companies with Ltd. or S.A. after their name are essentially the same in organizational form as U.S. companies with Corp. after their name.” Do you agree? Explain.
Answer to relevant QuestionsHow is GAAP set in the United States? How is it set internationally?“The accounting systems described in this book apply to corporations and are not appropriate for nonprofit organizations.” Do you agree? Explain.Critics sometimes refer to accountants as historians and do not mean it kindly. In what sense are accountants historians, and do you believe this is a compliment or a criticism? Use the format of Exhibit 1-2 to analyze the following transactions for April of Marymount Services, Inc. Then prepare a balance sheet as of April 30, 20X1. Marymount Services was founded on April 1. 1. Issued 1,000 shares ...El-Hashem Partners is a partnership started by two brothers, Muhab and Ghassan El-Hashem. Each has an equal share of the total owners’ equity of $90,000. There is only one asset, a rental house listed at $350,000, and one ...
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