A business firm whose shares are held by a single person may be a sole proprietorship, but it cannot a corporation. True False
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A business firm whose shares are held by a single person may be a sole proprietorship, but it cannot a corporation.
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- In the event of bankruptcy, which partners would most likely to spend more money to settle the business liabilities? A)Silent partners B)Limited partners C)Industrial partners D)General partnersThe distinguishing feature of a corporation is that A) their is no legal difference between the corporation and its owners. B) it is a legally defined, artificial being, separate from its owners. C) it spreads liability for its corporate obligations to all shareholders. D) provides limited liability only to small shareholders.Which of the following statements is correct in relation to limited partners? Select one: a. Their liability is limited to the capital they have agreed to invest in the partnership b. They have no liability for partnership debts c. They have full liability for partnership debts.
- Write down the advantages and disadvantages of a Regular Corporation, an S Corporation, and a Limited-Liability CompanyExplain what rights shareholders have in a Joint Stock company? Describe each right in detail.1. Explain the all the forms of and the advantages and disadvantages of each form of business. Define each form of business, sole proprietor, partnership, LLC, LP, and Corp. Next for each form of business explain the advantage and disadvantage of that particular form of business, comparing that form to the other types discussed. 2. Explain which form you would want to use for your business. o Explain why.
- Josue is part of a business entity in which the parties are protected against personal liability for business debts.What type of business entity is this? Is it able to be registered as a brokerage? It is an LLC. It may NOT be registered as a brokerage It is an LLC. It may be registered as a brokerage. It is a corporation. It may be registered as a brokerage. It is a corporation. It may NOT be registered as a brokerage4. Which of the following statements are true about an S Corporation? Group of answer choices A. Shareholders of an S Corps have limited liability B. Shareholders of an S Corps are liable for all profits and losses as a flow-through tax entity C. S Corps only have one class of stock D. S Corps limit the number of shareholders to no more than 100 E. All of the above are trueIf ABC Corporation will increase its authorized capital stock, the Corporation Code requires - a. the approval of the majority of the Board of Directors only. b. the approval of the majority of the stockholders and the Board of Directors. c. the approval of 2/3 of the shareholders of the outstanding capital stock as well as the approval of the Securities and Exchange Commission. d. the approval of the majority of the Board of Directors and approval of the shareholders holding 2/3 share of the outstanding capital stock.
- You are interested in starting your own business, you have been advised to register the business as limited company. Describe the processes and requirements involved in the establishment of such a business. Include the advantages of registering the company as a limited companyCorporations with no capital stock and not authorized to distribute dividends. What it is?What are the legal obligations and liabilities of business owners, partners, and shareholders in a corporation?