Question: Chapter 1 Homework Assignment 1. 2. 3. 4. List and describe the four corporate characteristics. Give an example of pass-through taxation and double taxation. Which

 Chapter 1 Homework Assignment 1. 2. 3. 4. List and describe

Chapter 1 Homework Assignment 1. 2. 3. 4. List and describe the four corporate characteristics. Give an example of pass-through taxation and double taxation. Which characteristics does a sole proprietorship or partnership have and how are they taxed? Which of the corporate characteristics does an S-corporation have and how are they taxed? What limitations are S-corporations subject to? Which corporate characteristics does a Limited Liability Company Have and how are they taxed? Discuss the agency problem between the firm's owners and the firm's managers. How can the firms' owners minimize this agency problem? 5. 6. 7

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