A business owned by an individual who has unimited aty for s de calledE a) Corporation...

 

Transcribed Image Text:

A business owned by an individual who has unimited aty for s de calledE a) Corporation b) Sole proprietorship ) General partnership d) Limited partnership e) Limited lability company 12) A business partner whose potential financial loss in the partnership will not eaceed his or her investment in that partnership is called: a) General partner b) Sole proprietor Limbed partner d) Corporate shareholder e) Zero partner 13) Which of the following accounts are included in working capital management? I Accounts Payable Accounts Recelvable II. IV Inventory Fixed Assets a) l and Il only b) Tand II only c) il and IV only d) 1, I, and IV only e) II, I, and IV only 14) Which one of the following statements concerning a sole proprietorship is correct? a) The life of a sole proprietorship is potentially unlimited b) A sole proprietor can generally raise large sums of capital quite easily c) Transferring ownership of a sole proprietorship is easier than transferring ownership ofi corporation d) A sole proprietorship is taxed the same as a corporation e) It is easy to create a sole proprietorship A business owned by an individual who has unimited aty for s de calledE a) Corporation b) Sole proprietorship ) General partnership d) Limited partnership e) Limited lability company 12) A business partner whose potential financial loss in the partnership will not eaceed his or her investment in that partnership is called: a) General partner b) Sole proprietor Limbed partner d) Corporate shareholder e) Zero partner 13) Which of the following accounts are included in working capital management? I Accounts Payable Accounts Recelvable II. IV Inventory Fixed Assets a) l and Il only b) Tand II only c) il and IV only d) 1, I, and IV only e) II, I, and IV only 14) Which one of the following statements concerning a sole proprietorship is correct? a) The life of a sole proprietorship is potentially unlimited b) A sole proprietor can generally raise large sums of capital quite easily c) Transferring ownership of a sole proprietorship is easier than transferring ownership ofi corporation d) A sole proprietorship is taxed the same as a corporation e) It is easy to create a sole proprietorship

Answer rating: 100% (QA)

11 Sole Proprietorship In a sole proprietorship business individual is personally l... View the full answer