Exam 9: The Organizational Plan

In order for a corporation to be legally formed the owners have to register the name and articles of incorporation and meet statutory requirements. 

In a partnership,the general partners usually share the amount of personal liability according to their capital contributions. 

In which form of organization does the owner have greatest control  

The board of directors should be an even number of members. 

The ________ is a special type of corporation where profits are distributed to stockholders and taxed as personal income. 

The only source of capital for a corporation is the sale of shares of stock. 

Corporations distribute profits primarily through dividends. 

In a limited liability partnership (LLP)death or withdrawal of a partner: 

In a limited liability company,every member has limited liability. 

Once the board of advisors have been hired,the entrepreneur should not question their advice. 

Which of the following statements is true  

The 2017 tax changes for all pass through businesses: 

Bonds can be used to raise capital in which form of ownership  

The management team of a new venture: 

The partnership is the most attractive type of business formation for raising capital. 

The difference between a board of directors and a board of advisors is that: 

The legal form of business with the most alternatives for raising capital is the: 

When it comes to decision making,in a limited partnership: 

Which of the following is not one of the main functions of the management team according to text  

In which of the legal forms of ownership is transferability of interest the easiest