Please give an answer to the following questions below that contains 250 to 300 words for each.
Question 1. Compare the three forms of business entities: corporation, partnership and sole proprietor. What are the advantages and disadvantages or each form of entity? Share with the class your experience with the different forms of entities.
Question 2. Define assets, liabilities and stockholders' equity. List different assets, liabilities and stockholders' equity that can be found in your place of work or in your personal life.
Question 3. What is the basic accounting equation? Explain how does the Retained earnings statement relate to the Income statement and Balance sheet?