206.Comprises 70% of business entities in the United States
207.Generates 90% of business revenues
208.Owned by two or more individuals
209.Organized as a separate legal taxable entity
210.Easy and cheap to organize
211.Often used as an alternative to a partnership
212.Used by large business
213.Has the ability to obtain large amounts of resources
214.Offers tax and legal liability advantages for owners
Match each transactions with its effect on the accounting equation. Each letter may be used more thanonce.
a.Increase assets, increase liabilities
b.Increase liabilities, decrease owner’s equity
c.Increase assets, increase owner’s equity
d.No effect
e.Decrease assets, decrease liabilities
215.Received cash for services provided