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Questions and Answers
Which form of business organization offers the advantage of limited personal liability?
Which form of business organization offers the advantage of limited personal liability?
- Corporation (correct)
- Limited Liability Company
- Sole Proprietorship
- Partnership
What is a key advantage of a partnership over a sole proprietorship?
What is a key advantage of a partnership over a sole proprietorship?
- Limited personal liability
- Easier to establish
- Ability to sell stock
- Shared control (correct)
What characteristic makes corporations more attractive for raising funds compared to sole proprietorships or partnerships?
What characteristic makes corporations more attractive for raising funds compared to sole proprietorships or partnerships?
- Personal liability protection
- Tax advantages
- Stock ownership limitations
- Easier transfer of ownership (correct)
Which business organization type is associated with tax advantages, shared control, and formed due to lack of resources or unique skills?
Which business organization type is associated with tax advantages, shared control, and formed due to lack of resources or unique skills?
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What is a distinguishing feature of a corporation compared to a sole proprietorship or partnership?
What is a distinguishing feature of a corporation compared to a sole proprietorship or partnership?
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