Users of Accounting Information and Forms of Business organization e12A. Avalon Pharmacy has… 1 answer below »

Users of Accounting Information and Forms of Business organization

e12A. Avalon Pharmacy has recently been formed to develop a new type of drug treat- ment for cancer. Previously a partnership, Avalon has now become a corporation. Describe the various groups that will have an interest in Avalon’s financial statements. What is the difference between a partnership and a corporation? What advantages does the corporate form have over the partnership form of business organization?

 

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