Because corporations are legally separated from their owners, there are several differences in terminology as compared to other business types. In this video you will get introduced to some of those differences.
This video was created in relation to the Utah State CTE standards for the Accounting II High School course. Specifically, this video prepares students to complete Strand 1, Standard 1: Identify the difference in the financial statements between a merchandising corporation and a sole proprietor service business.
