Fi515 Midterm

 1.| Question :| (TCO A) Which of the following statements is CORRECT?| |  | savant Answer:| |   unitary of the disfavours of incorporating a business is that the owners then become return to liabilities in the event the firm goes bankrupt.|  | | |   re touch on proprietorships are subject to to a greater extent regulations than corporations.|  | | |  In any type of partnership, every partner has the same(p) rights, privileges, and liability exposure as every other partner.|  | | |  Sole proprietorships and partnerships gener tout ensembley have a tax advantage everywhere many corporations, especially large ones.|  | | |  Corporations of all types are subject to the corporate income tax.|  | Instructor Explanation:| Chapter 1Explanation:  Ch 1:  d is correct, all others are incorrecta: incorporating provides owners limited liabilityb: sole proprietorship has less regulation than corporationc: In limited partnerships certain partners can be designated world-wide partners and others limited partners with differences in control and liabilityd.  sole proprietorships and partnerships are taxed scarce once at owner level (pass-through of income to owners) whereas corporation network can be double or triple taxed depending on individual or corporate ownership of stocke.

  S-corps can pick out to be taxed as proprietorship  or partnership| | |  | Points current:| 0 of 8|  | Comments:| | | |  2.| Question :| (TCO A) Which of the following statements is CORRECT?| |  | Student Answer:| |  It is generally more expensive to form a proprietorship than a corporation because, with a proprietorship, extensive legitimate documents are required.|  | | |  Corporations face fewer regulations than sole proprietorships.|  | | |  One disadvantage of operating a business as a sole proprietorship is that the firm is subject to double taxation, at both the firm level and the owner level.|  | | |  One advantage of forming a corporation is that equity... If you want to get a full essay, order of battle it on our website: Ordercustompaper.com

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