Which of the following is NOT the weaknesses of sole proprietorship? Manakah di antara berikut BUKAN kelemahan perniagaan milikan tunggal? Select one: A. Limited skills and capability /Keupayaan dan kemahiran terhad B. Do not have proper financial record /Tidak memiliki rekod kewangan yang baik C. Unlimited liability /Liabiliti tidak terhad D. Business information can be kept confidential /Maklumat perniagaan tidak perlu didedahkan

Which of the following is NOT the weaknesses of sole proprietorship? Manakah di antara berikut BUKAN kelemahan perniagaan milikan tunggal? Select one: A. Limited skills and capability /Keupayaan dan kemahiran terhad B. Do not have proper financial record /Tidak memiliki rekod kewangan yang baik C. Unlimited liability /Liabiliti tidak terhad D. Business information can be kept confidential /Maklumat perniagaan tidak perlu didedahkan

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter18: Comparative Forms Of Doing Business

Section: Chapter Questions

Problem 41P

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Which of the following is true about this statement: "In a sole proprietorship, the owner's personal assets are at risk if the business is not successful." Is this true? a) No, personal assets are protected by sole proprietorship laws. b) Yes, there is no protection for personal assets with sole proprietorships. c) No, personal assets are only at risk with corporations. d) Yes, this is true for all forms of business.
Which type of business will most likely have problems with insufficient funds for business? A)Partnerships B)LLCs C)Corporations D)Sole proprietorship
A common disadvantage of a sole proprietorship is a) that the owner must share profits with others. b) double taxation of earnings. c) the limited life of the business. d) difficulty starting the business.
Owners have no personal liability under which legal business structure? A. a corporation B. a partnership C. a sole proprietorship D. There is liability in every legal business structure.
Which of the following is true? a. Owner in sole proprietorship has less responsibility in running his business compared to partnership b. The liability for sole proprietorship is limited compared to partnership c. The sole proprietorship business has unlimited growth potential compared to partnership d. The owner of sole proprietorship has less available capital compared to partnership
What term is used to describe the characteristic of a business entity where an individual(s) associated with an entity can not only lose all of his/her investment in the firm but personal assets can be taken to pay the debts of the firm if necessary? Group of answer choices unlimited liability limited liability dissolution mutual agency
Do those who are unable or unable to operate under a conventional corporation's limitations have a predisposition toward starting their own business? Is there a reason for this or not?
Which of the following is true of limited liability companies ? a) They protect the members personal assets in case of lawsuits b) They are very complex and difficult to run c) They are established for a specific project or for a limited time d) They require members to regularly hold meetings
Question: 1) Which of the following statement is not correct about a sole trader business? option: A. sole trader has a limited liability. B. sole trader has an unlimited liability. C. the owner must bear the loss of the business. D. sole trader is not a separate legal entity. reqiured: please answer this question by choosing the correct answer.
Which of the following statements is false concerning forms of businessorganization? a. A corporation has tax advantages over the other forms of businessorganization.b. It is easier for a corporation to raise large sums of money than it isfor a sole proprietorship or partnership.C. A sole proprietorship is an easy type of business to form.d. Owners Of sole proprietorships and partnerships have personalliability for the debts of the business while owners of corporationshave limited legal liability.
Which of the following is not an advantage of the corporate form of business organization? a) unlimited life b) transferability of ownership c) limited liabilitiy of stockholders d) unlimited personal. liability for stockholders
Which form of business organization is characterized by having the shortest start-up time and lowest legal costs? Select one: a. partnership b. S-corporation c. proprietorship d. corporation