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Sole Proprietorship
Partnership
Corporation
Joint/S-Corp
LLC
100
As its name suggests, this form has ____ owner(s)?
What is one or single
100
A partnership must have at least ____ owners?
What is two or 2.
100
_____ corporations are not required to disclose their financial information publicly.
What is private.
100
Joint ventures may be used for specific projects or ____ periods of time.
What is limited or shorts
100
An LLC is a ____ of a corporation and a partnership.
What is hybrid.
200
Shhh! Sole proprietors can be very _____ about their operating plans.
What is secret or secrecy.
200
Partnerships usually combine _____ skills among the owners.
What is complimentary or complement
200
Corporations secure funding by raising capital in the markets through an ______.
What is IPO or initial public offering.
200
Joint ventures are common when investments are ____.
What is large or big.
200
In an LLC, one's ______ are protected and separate from legal action.
What are personal assets.
300
All for one and one for all! Sole Proprietors have ______ liability.
What is unlimited.
300
Partners must make decisions together, as defined in the ____ of partnership.
What is article or legal article
300
Corporations suffer from _____ taxation.
What is double.
300
In joint ventures, decision making may or may not be ____.
What is joint or equal.
300
LLC's benefit from _____ liability.
What is limited.
400
Finding an "heir" to a sole proprietor is a weakness in _____ planning.
What is legacy or succession planning.
400
In partnerships, each owner is liable for the _____ of the other partner.
What is actions or behavior
400
Public corporations are under the scrutiny of the public and government to disclose ______.
What is information.
400
S-Corps are partnerships that help eliminate the _____ taxation.
What is double. Profits or losses flow to the owners.
400
LLCs are taxed at the ______ tax rate
What is individual or marginal individual income tax rate.
500
Profits flow directly to the sole proprietor under _____ income tax.
What is personal or marginal individual tax rate.
500
Partnerships pay taxes at the individual income tax rate, however, they must file a ____ form to disclose their share of the profits to the IRS.
What is K-1.
500
Corporate executives are managed by _______.
What is board of directors.
500
S-corps are very popular with _______ and represent almost half of all corporate filings.
What is entrepreneurs or small business.
500
LLCs can be for profit or ____ profit.
What is not-for or non-profit.