Business Ownership and Liability Quiz
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Questions and Answers

What does having a business name not do?

  • Provide limited liability for the owner (correct)
  • Prevent the owner from being responsible for business debts
  • Separate the business entity from the owner
  • Protect the owner's personal possessions

How is the taxation system for businesses different from that of corporations?

  • Businesses are subject to corporate tax rates
  • Corporations are responsible for personal tax on business income
  • Businesses do not allow for corporate tax rates (correct)
  • Corporations are personally taxed on all income

What do corporations provide for their owners/members?

  • Limited liability (correct)
  • Personal possession protection
  • Unlimited taxation on business income
  • Full responsibility for business debts

How are corporations different from sole proprietors and partnerships?

<p>They provide limited liability for owners/members (C)</p> Signup and view all the answers

What is the primary responsibility of the owner of a business entity?

<p>Being personally responsible for business debts (C)</p> Signup and view all the answers

What unifying themes tie together the field of biology?

<p>Cells, hereditary information, evolution, and energy processing (A)</p> Signup and view all the answers

What allows organisms to move, grow, and reproduce?

<p>Energy processing (D)</p> Signup and view all the answers

At what levels of organization can biologists study life?

<p>From the molecular biology of a cell to the anatomy and physiology of plants and animals, and evolution of populations (C)</p> Signup and view all the answers

What is a major theme that explains the unity and diversity of life?

<p>Evolution (D)</p> Signup and view all the answers

How do biologists make observations and pose questions?

<p>Using the scientific method (B)</p> Signup and view all the answers

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