Study Guide
In which form of business organization are the owners not offered the protection of limited liability?
Proprietorship
2. In which form of business organization is the taxation effects characterized by the income flowing to shareholders taxed at personal tax rates?
S Corporation
3. Which form of business organization is characterized by having the shortest start-up time and lowest legal costs?
Proprietorship
4. Which form of business organization typically offers the easiest transfer of ownership?
Corporation
Which form of business organization is characterized as having unlimited life?
S Corporation
Which of the following is not a right or a duty of general partners?
Partnership.- some “---” for partnership obligation ( do not)
The rules and procedures established to govern the corporation are called the
Corporate Bylaws
In a general partnership, legal action that treats all partners equally as a group is called:
Joint Liabiliies ?¿?
Which of the following business organizational forms provides the owners with limited investor liability and passes its income before taxes through to the owners?
S Corporation and LLC
Which of the following numbers of shareholders is allowed in a Subchapter S (or S) corporation business form?
74
Intellectual property can be protected by all of the following except:
Copyrights // Legal Disclaimers
Which of the following are intellectual property rights granted for inventions that are useful, novel, and non-obvious?
Patents
Which of the following are intellectual property rights in the form of inventions and information such as formulas, processes, and customer lists that are not generally known to others and which convey economic advantage to the holders?
Trade Secrets
14. Which of the following are intellectual property rights that allow firms to differentiate their products and services through the use of unique
Proprietorship
2. In which form of business organization is the taxation effects characterized by the income flowing to shareholders taxed at personal tax rates?
S Corporation
3. Which form of business organization is characterized by having the shortest start-up time and lowest legal costs?
Proprietorship
4. Which form of business organization typically offers the easiest transfer of ownership?
Corporation
Which form of business organization is characterized as having unlimited life?
S Corporation
Which of the following is not a right or a duty of general partners?
Partnership.- some “---” for partnership obligation ( do not)
The rules and procedures established to govern the corporation are called the
Corporate Bylaws
In a general partnership, legal action that treats all partners equally as a group is called:
Joint Liabiliies ?¿?
Which of the following business organizational forms provides the owners with limited investor liability and passes its income before taxes through to the owners?
S Corporation and LLC
Which of the following numbers of shareholders is allowed in a Subchapter S (or S) corporation business form?
74
Intellectual property can be protected by all of the following except:
Copyrights // Legal Disclaimers
Which of the following are intellectual property rights granted for inventions that are useful, novel, and non-obvious?
Patents
Which of the following are intellectual property rights in the form of inventions and information such as formulas, processes, and customer lists that are not generally known to others and which convey economic advantage to the holders?
Trade Secrets
14. Which of the following are intellectual property rights that allow firms to differentiate their products and services through the use of unique