Service, merchandising, and manufacturing firms

1. What is JIT?

2. Explain the differences among sole proprietorships, partnerships, and corporations.

3. Explain the differences among service, merchandising, and manufacturing firms.

4. Explain the role of accounting in ancient times.

1. Explain the role of accounting in the 11th through 15th centuries in Italy.

2. What is an asset? Give an example.

3. What is a liability? Give an example.

Solution:

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