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Question 11.Which of the following businesses represents a sole proprietorship?
Question 22.How much protection from liability does a sole proprietorship offer?
Question 33.A sole proprietorship must register with which of the following?
Question 44.Which of the following describes the income tax treatment for a sole proprietorship?
Question 55.What happens if a sole proprietorship takes on a second owner?
Question 66.Which of the following is the best explanation of the main difference or differences between a limited partner and a general partner?
Question 77.Which one of the following is the partnership document that governs the rights and responsibilities of the partners?
Question 88.What type of partnership offers no protection from personal liability for the partners?
Question 99.Which one of the following do LPs, LLPS, and LLLPs have in common but is not a characteristic of a general partnership?
Question 1010.What type of partnership has a general partner who has full liability and a limited partner whose liability is limited to their investment in the partnership?
Question 1111.Which of the following is true about a limited liability company?
Question 1212.What document is used to govern the operations of a limited liability company?
Question 1313.What is the best explanation of pass-through taxation?
Question 1414.Bob goes to Susie's General Store which is a Limited Liability Company. While there, something falls off the shelf and hits Bob on the head. Bob wants to pursue legal action. What are Bob's legal options?
Question 1515.What does someone have to file to form a limited liability company?
Question 1616.Which one of the following is considered a disadvantage of a corporation?
Question 1717.What is the primary reason a business a would decide to become a corporation over any other form of organization?
Question 1818.Tyler is the sole owner and stockholder of the corporation, Tyler's Tires. Two years ago, Tyler's Tires hired Anna as the CEO. If Tyler dies, what happens to Tyler's Tires?
Question 1919.What is the difference between an S-corporation and a C-corporation?
Question 2020.What do you call the documentation that governs the corporation's activities?
Question 2121.What is the purpose of requiring a bar to be licensed with the Alcohol and Tobacco Tax and Trade Bureau?
Question 2222.Duffs McGee wants to open a small casino on the corner of Main and Elm Streets. It happens to be within 200 yards of an elementary school. In order for Duffs to open the gambling house, he would have to get which type of license or permit?
Question 2323.What must a person seeking an Occupational License do in order to obtain a license?
Question 2424.Which of the following permits are for businesses who comply with regulations concerning chemical spills and pollution?
Question 2525.Stevie wants to renovate his current storefront cafe to include a open BBQ pit and a brick oven pizza. What type of permit does he need?
Understanding Business Structures Chapter Exam Instructions
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