Question 1

What kinds of companies would benefit most from S corporation status? Least?

Accepted Answer

S corporation status is usually benefici

Question 2

In a partnership, the ________ partner(s) has (have) unlimited liability for the partnership's debts.

Accepted Answer

A)  limited 
B)  dormant 
C)  nominal 
D)  general 
A)  limited 
B)  dormant 
C)  nominal 
D)  general

Question 3

In a partnership, the business itself is subject to federal income tax.

Accepted Answer

A) True 
 B)False

Question 4

What factors should an entrepreneur consider when choosing a form of ownership?

Accepted Answer

Factors an entrepreneur should consider

Question 5

"Double taxation" refers to the fact that corporations are required to pay both federal and state income taxes.

Accepted Answer

A) True 
 B)False

Question 6

John and Bill are considering starting a partnership. Why is it important for them to develop a formal partnership agreement? List at least ten of the provisions their partnership agreement should include.

Accepted Answer

The partnership agreement is important b

Question 7

A special type of partnership in which all partners, who in many states must be professionals, are limited partners is called:

Accepted Answer

A)  general partnership 
B)  limited partnership 
C)  silent partnership 
D)  limited liability partnership. 
A)  general partnership 
B)  limited partnership 
C)  silent partnership 
D)  limited liability partnership.

What kinds of companies would benefit most from S corporation status? Least?

In a partnership, the ________ partner(s) has (have) unlimited liability for the partnership's debts.

In a partnership, the business itself is subject to federal income tax.

What factors should an entrepreneur consider when choosing a form of ownership?

"Double taxation" refers to the fact that corporations are required to pay both federal and state income taxes.

John and Bill are considering starting a partnership. Why is it important for them to develop a formal partnership agreement? List at least ten of the provisions their partnership agreement should include.

A special type of partnership in which all partners, who in many states must be professionals, are limited partners is called:

The Foundations of Entrepreneurship

Inside the Entrepreneurial Mind: From Ideas to Reality

Designing a Competitive Business Model and Building a Solid Strategic Plan

Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Franchising and the Entrepreneur

Buying an Existing Business

Building a Powerful Marketing Plan

E-Commerce and the Entrepreneur

Pricing Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Debt and Equity

Choosing the Right Location and Layout

Global Opportunities

Building a Team and Management Succession

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Exam 5: Forms of Business Ownership

What kinds of companies would benefit most from S corporation status? Least?

In a partnership, the ________ partner(s) has (have) unlimited liability for the partnership's debts.

In a partnership, the business itself is subject to federal income tax.

What factors should an entrepreneur consider when choosing a form of ownership?

"Double taxation" refers to the fact that corporations are required to pay both federal and state income taxes.

John and Bill are considering starting a partnership. Why is it important for them to develop a formal partnership agreement? List at least ten of the provisions their partnership agreement should include.

A special type of partnership in which all partners, who in many states must be professionals, are limited partners is called:

The Foundations of Entrepreneurship

Inside the Entrepreneurial Mind: From Ideas to Reality

Designing a Competitive Business Model and Building a Solid Strategic Plan

Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Franchising and the Entrepreneur

Buying an Existing Business

Building a Powerful Marketing Plan

E-Commerce and the Entrepreneur

Pricing Strategies

Creating a Successful Financial Plan

Managing Cash Flow

Sources of Financing: Debt and Equity

Choosing the Right Location and Layout

Global Opportunities

Building a Team and Management Succession

Filters