Business Concepts Quiz

Protect the owner's personal possessions from creditors (correct)

Prevent the owner from being responsible for business debts

Allow for corporate tax rates

Separate the business entity from the owner

Corporations provide limited liability for owners

Business owners are not personally taxed on income

Business structure allows for corporate tax rates (correct)

Business owners are personally taxed on all income

Sole proprietors can acquire debts without personal liability

Corporations are not subject to taxation

Sole proprietors have limited liability

Corporations are separate legal entities (correct)

<p>Any activity entered into for profit</p> Signup and view all the answers

<p>Go after the owner's personal possessions</p> Signup and view all the answers