Description
At the end of this chapter, the learner will be able to:
- Describe the nature of Accounting.
- Explain the importance of Accounting in business.
- Explain why Accounting is referred to as the“language of business”.
- Explain why it is important not to mix personal withbusiness transaction.
- Explain why knowledge of basic business terms isimportant for a non-accountant who is in business.
- Enumerate and describe the different forms ofbusiness organizations.
- Explain why only natural persons can form apartnership.
- Explain why a limited partner has to be specifically described as such is the Articles of Partnership.
- Enumerate and describe the different kinds of business.
