Types of Businesses

How many points should the test be worth?

Partnerships usually dissolve upon the____ of a partner?

The money made by a sole proprietorship cannot be transferred into the business owners personal bank account?

A______ must be a domestic corporation or LLC?

A partnership must file a partnership tax return, but the taxes are paid_____?

Corporations raise capital by selling_____?

A C Corporation is the most_____ form of a corporation?

Some states levy a tax for partnerships that are____?

personal money invested

Corporations have a_____ or ______ who makes the day to day decisions of the company?

A_______ passes profits onto shareholders, and they pay the taxes on the profits?

Who is ready the test of Wednesday?

A sole proprietorship must pay a____ Tax?

A sole proprietorship is east to start?

An advantage of a sole proprietorship is that the owner is responsible for personal health insurance?

A_______must have only one form of stock?

A legal form of business offering set losses

Partnerships that may be dissolved or modified at any time

Two or more people going into business together

_______ are allowed to keep all profits?

member's ownership in just one LLC

Banks are _____ willing to lend money to one person for a business venture?

Membership interests that are often divided in standardized units

_________ cannot have more then 30 members?

Responsible for the partnership's debts?

A sole proprietorship is a business entity with a single owner/operator?

the person with the largest member proportion

A sole proprietorship is relatively simple to manage and control

The manager runs the______ operations of an LLC?

A person who provides capital but has no decision-making power and is only liable for the amount invested

In a sole proprietorship, decisions can be made_____?

A professional organization offering something that has real existence is a____?

Should there be bonus points on the test?

A_____is taxed like a partnership?

_____Stockholders must be U.S. Citizens?

The business ends if the owner dies?

A______ is a document that all partners agree to and to which the y are held accountable?