Question 1

What is a limited liability company? Explain the advantages and disadvantages of this type of business ownership?

Accepted Answer

A limited liability company (LLC)is a re

Question 2

Martin,Leah,and Pablo are considering forming a business.What factors should they consider in making a choice of organization?

Accepted Answer

A)  Ease of creation and operation. 
B)  Whether there is personal liability for the owners. 
C)  How the owners will be taxed. 
D)  All of the above. 
A)  Ease of creation and operation. 
B)  Whether there is personal liability for the owners. 
C)  How the owners will be taxed. 
D)  All of the above.

Question 3

All the business forms listed below have limited liability except the:

Accepted Answer

A)  limited liability company. 
B)  general partnership. 
C)  Subchapter "S" corporation. 
D)  corporation. 
A)  limited liability company. 
B)  general partnership. 
C)  Subchapter "S" corporation. 
D)  corporation.

Question 4

The most dominant form of business ownership is the corporation.

Accepted Answer

A) True 
 B)False

Question 5

Harold and Zack have pooled their money together to buy real estate but have filed no formal papers to form a business.Harold,a lawyer,handles all the legal matters and Zack,a real estate broker,finds buyers for the property they have subdivided.Harold and Zack are engaged in a:

Accepted Answer

A)  partnership. 
B)  close corporation. 
C)  limited liability company. 
D)  business trust. 
A)  partnership. 
B)  close corporation. 
C)  limited liability company. 
D)  business trust.

Question 6

All of the following are characteristics of a closely held corporation EXCEPT:

Accepted Answer

A)  the shares are publicly traded. 
B)  the corporation can typically operate without a board of directors. 
C)  the shareholders usually restrict share transfer. 
D)  minority shareholders are provided more protection than in regular corporations. 
A)  the shares are publicly traded. 
B)  the corporation can typically operate without a board of directors. 
C)  the shareholders usually restrict share transfer. 
D)  minority shareholders are provided more protection than in regular corporations.

What is a limited liability company? Explain the advantages and disadvantages of this type of business ownership?

Martin,Leah,and Pablo are considering forming a business.What factors should they consider in making a choice of organization?

All the business forms listed below have limited liability except the:

The most dominant form of business ownership is the corporation.

Harold and Zack have pooled their money together to buy real estate but have filed no formal papers to form a business.Harold,a lawyer,handles all the legal matters and Zack,a real estate broker,finds buyers for the property they have subdivided.Harold and Zack are engaged in a:

All of the following are characteristics of a closely held corporation EXCEPT:

Introduction to Law

Business Ethics and Social Responsibility

Courts,Litigation and Alterntive Dispute Resolution

Constitutional, Statutory, Administrative, and Common Law

Intentional Torts and Business Torts

Negligence and Strict Liability

Crime

International Law

Introduction to Contracts

Contract Impediments

Conclusion to Contracts

Practical Contracts

Introduction to Sales

Negotiable Instruments

Secured Transactions

Bankruptcy

Agency Law

Employment Law

Employment Discrimination

Labor Law

Life and Death of a Corporation

Government Regulation: Securities and Antitrust

Accountants' Liability

Consumer Law

Environmental Law

Cyberlaw

Intellectual Property

Real Property and Tenant: Landlord Law

Personal Property and Bailment

Estate Planning

Insurance

Filters

Exam 21: Starting a Business: Llcs and Other Option

What is a limited liability company? Explain the advantages and disadvantages of this type of business ownership?

Martin,Leah,and Pablo are considering forming a business.What factors should they consider in making a choice of organization?

All the business forms listed below have limited liability except the:

The most dominant form of business ownership is the corporation.

Harold and Zack have pooled their money together to buy real estate but have filed no formal papers to form a business.Harold,a lawyer,handles all the legal matters and Zack,a real estate broker,finds buyers for the property they have subdivided.Harold and Zack are engaged in a:

All of the following are characteristics of a closely held corporation EXCEPT:

Introduction to Law

Business Ethics and Social Responsibility

Courts,Litigation and Alterntive Dispute Resolution

Constitutional, Statutory, Administrative, and Common Law

Intentional Torts and Business Torts

Negligence and Strict Liability

Crime

International Law

Introduction to Contracts

Contract Impediments

Conclusion to Contracts

Practical Contracts

Introduction to Sales

Negotiable Instruments

Secured Transactions

Bankruptcy

Agency Law

Employment Law

Employment Discrimination

Labor Law

Life and Death of a Corporation

Government Regulation: Securities and Antitrust

Accountants' Liability

Consumer Law

Environmental Law

Cyberlaw

Intellectual Property

Real Property and Tenant: Landlord Law

Personal Property and Bailment

Estate Planning

Insurance

Filters