Title: Identify the forms of business ownership and the ways they affect accounting.
Course: Accounting (12104-I) > Section: Understanding Businesses

Identification could include

- defining the major forms of business ownership (i.e., proprietorship, partnership, corporation)
- classifying global types and hybrids of business ownership (e.g., limited liability company [LLC], proprietary limited [Pty Ltd])
- comparing accounting procedures among these forms by analyzing how the defining characteristics of each form affects accounting
- differentiating between S corporations and C corporations.