Which of the following is an advantage of a sole proprietorship?
question
It is easy and inexpensive to form this type of business,
answer
A key advantage of a sole proprietorship is that:
question
Treated as a personal income of Tina.
answer
Tina is the owner of a dance studio. As a sole proprietor, any profit she earns is:
question
They have limited ability to raise funds needed to finance growth.
answer
A key reason most sole proprietorships remain relatively small is that:
question
Unlimited liability.
answer
Sole proprietorships have______ for the debts of their companies.
question
It is safer to get everything in writing and to seek expert legal assistance when drawing up an agreement.
answer
Which of the following statements is true of formation of a general partnership?
question
is likely to have a stronger financial base.
answer
Compared to a sole proprietorship, a general partnership:
question
Their ability to avoid double taxation.
answer
A similarity between a general partnership and a sole proprietorship is:
question
C Corporations
answer
_____ are the most common types of corporations.
question
C Corporations
answer
A ______ is a legal business entity that offers limited liability to all of its owners.
question
Articles of incorporation.
answer
Which of the following best describes the document filed with a state government to establish the existence of a new corporation?
question
Owners
answer
Stockholders are the ______ of the corporation.
question
Ability to raise large amounts of financial capital.
answer
A key advantage of a C Corporation is:
question
It is a form of corporation that avoids double taxation by having its income taxed as if it were a partnership.
answer
Which of the following statements best describes and S corporation?
question
Nonprofit corporations cannot distribute dividends to members.
answer
Which of the following is true of nonprofit corporations?
question
limited liability corporation.
answer
Liz, Ashley, and Selena started an interior design.renovation business where they all actively manage the company while protecting their personal assets from unlimited liability. They don't like formality and don't want to hold regular board meetings, etc. They should most likely form a _______.
question
Franchise
answer
A ______ is a licensing arrangement under which one party allows another party to use its name, trademark, patents, copyrights, business methods and other property in exchange for monetary payments and other considerations.
question
The franchisor normally provides the franchise with extensive training and support.
answer
Which of the following statements is true of a franchise?
Haven't found what you need?
Search for quizzes and test answers now
Quizzes.studymoose.com uses cookies. By continuing you agree to our cookie policy
