WEEK 8 QUIZ 1

QUESTION 1

  1. All the business forms listed below have limited liability EXCEPT the
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 2

  1. Corporations have a distinct advantage over other forms of business organization in the area of taxation.

     

     

3.5 points   

QUESTION 3

  1. Which is true of an S corporation?
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 4

  1. In many ways, a limited liability company can be thought of as a cross between
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 5

  1. A social enterprise must do all of the following EXCEPT
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 6

  1. Charles and Ellen, an unmarried couple, run an ice cream store. The business is not incorporated, and they have filed no formation papers with the state. Their business is a
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 7

  1. Social enterprises are organizations that pledge to behave in a socially responsible manner, even as they pursue profits.

     

     

3.5 points   

QUESTION 8

  1. The phrase “piercing the company veil” applies to which type of organization?
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 9

  1. Most franchisors and franchisees are
    a.
    b.
    c.
    d.

3.5 points   

QUESTION 10

  1. The term “S Corporation” comes from
    a.
    b.
    c.
    d.

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