Question

Question 1

A) How does the taxation of a corporation differ from that of a sole proprietorship and partnership?(1 point)

Taxes are said to pass through the corporation and onto owners.


The corporation pays no tax.


The corporation is taxed, and then shareholders are additionally taxed.


The earnings of shareholders are taxed directly.


Question 2
A) Which of the following business structures is said to have unlimited life?(1 point)

sole proprietorship


limited partnership


general partnership


corporation


Question 3
A) Corporations, limited partnerships, and limited liability partnerships differ from sole proprietorships and general partnerships in(1 point)

decision-making.


number of owners.


liability.


lifespan.


Question 4
A) Which of the following describes a primary difference between corporations and unincorporated businesses?(1 point)

The liability of owners is limited.


Decisions are made by a board of directors.


Two or more members are required to form a corporation.


Shareholders may have to liquidize assets to cover failures of the corporation.


Question 5
A) Sophia and Mia are interested in starting a business venture together. Other firms in the industry face high financial risks and tricky legal requirements that could easily get them into costly trouble. Which of the following would be the wisest choice of business structure for Sophia and Mia to pursue?(1 point)

general partnership


corporation


sole proprietorship


limited partnership

Answer 1

1.The corporation is taxed, and then shareholders are additionally taxed.

2. corporation

3. liability

4. Decisions are made by a board of directors.

5. corporation

Answer 2

1. The corporation is taxed, and then shareholders are additionally taxed.

2. corporation

3. liability.

4. Decisions are made by a board of directors.

5. corporation

Step-by-step explanation: