HIPAA limits the ability of health care plans to exclude coverage for certain preexisting medical conditions to a 6-month look back.

A business purchases equipment for $8,000 cash. Which of the following accounts is credited?

A) Cash B) Accounts Payable C) Common Stock D) Equipment

A business can be organized as a sole proprietorship, partnership, corporation, or limited-liability company (LLC)

Indicate whether the statement is true or false