Accounting
1. Why are most large companies established as corporations rather than as partnerships?
2. Why does a company usually not want to issue all its authorized shares?
3. Why would a company want to issue preferred stock?
1. What is a master budget and what are the guidelines that enhance its understandability and comparability?
2. Why does the preparation of operating budgets before financial budgets increase the usefulness of the budget process?
3. Why is the difference between a static budget and a continuous budget important in understanding budgets?