Question 1

For those wishing to purchase a franchise,the Federal Trade Commission acts as a guardian ensuring that the business idea is sound and that the information in the Franchise Disclosure Document is accurate.

Accepted Answer

A) True 
 B)False

Question 2

A court may pierce an LLC's veil if

Accepted Answer

A)  members fail to provide adequate capital.
B)  members treat the LLC like a separate organization.
C)  members keep their assests and the assets of the LLC separate.
D)  the LLC has too many members.E) None of the above
F) B) and C)

Question 3

The most common form of business ownership is the corporation.

Accepted Answer

A) True 
 B)False

Question 4

Compare and contrast the following forms of business organization: sole proprietorship,general partnership,limited liability company,and corporation as to ease of formation,liability of owners,management,and tax implications.

Accepted Answer

A sole proprietorship is an uninc...

Question 5

A limited liability company,unlike an S corporation,can have members that are corporations,partnerships,or nonresident aliens.

Accepted Answer

A) True 
 B)False

Exam 31: Starting a Business: LLCs and Other Options

For those wishing to purchase a franchise,the Federal Trade Commission acts as a guardian ensuring that the business idea is sound and that the information in the Franchise Disclosure Document is accurate.

Correct Answer
verified

A limited liability company,unlike an S corporation,can have members that are corporations,partnerships,or nonresident aliens.

Correct Answer
verified

A court may pierce an LLC's veil if

Correct Answer
verified

Compare and contrast the following forms of business organization: sole proprietorship,general partnership,limited liability company,and corporation as to ease of formation,liability of owners,management,and tax implications.

Correct Answer
verified
A sole proprietorship is an uninc...
View Answer

The most common form of business ownership is the corporation.

Correct Answer
verified

Exam 31: Starting a Business: LLCs and Other Options

For those wishing to purchase a franchise,the Federal Trade Commission acts as a guardian ensuring that the business idea is sound and that the information in the Franchise Disclosure Document is accurate.

Correct AnswerverifiedShow Answer

A limited liability company,unlike an S corporation,can have members that are corporations,partnerships,or nonresident aliens.

Correct AnswerverifiedShow Answer

A court may pierce an LLC's veil if

Correct AnswerverifiedShow Answer

Compare and contrast the following forms of business organization: sole proprietorship,general partnership,limited liability company,and corporation as to ease of formation,liability of owners,management,and tax implications.

Correct AnswerverifiedA sole proprietorship is an uninc...View AnswerShow Answer

The most common form of business ownership is the corporation.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A sole proprietorship is an uninc...
View Answer

Correct Answer
verified