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[DOC File]$5,000 was borrowed from a bank
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1. Which organizational form allows the business to be a separate, distinct entity from the owners? a. Proprietorship. b. Partnership. c. Corporation . d. All of the above. 2. The Retained Earnings account is unique to which of the following forms of business organization? a. Partnership. b. Proprietorship. c. …
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[DOC File]Entity selection - ACCT20200
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Once the business becomes profitable in year 4, using an LLC, partnership or S corporation form eliminates the double- tax problem of the taxable corporation form. If the owners want the flexibility of special allocations to reward the owners, entities taxed as partnerships provide the more favorable form.
sole proprietorship definition quizlet

[DOC File]ECONOMICS CHAPTER 3 TEST
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a. form of business organization recognized by law as a separate legal entity having all the rights of an individual b. corporation that has manufacturing or service operations in a number of countries c. voluntary association that buys bulk amounts of goods on behalf of its members d. business owned and run by one person e. price paid for the ...
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[DOC File]Business Law 201, Summer 2004 Final Examination, Professor ...
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58. The type of business organization formed most easily is the [A] partnership. [B] limited liability company. [C] sole proprietorship. [D] limited partnership. 59. Cole owed Williams $150. When Cole couldn’t pay the $150, Williams accepted $75 and a shaver worth $50 as full settlement. The contract was discharged by [A] substantial performance.
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[DOCX File]Chapter 30
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A significant disadvantage of this form of organization, however, is that unlike most other forms of business organization, there are no limits on the liability of the owner for the debts and obligations of the firm. Another dis-advantage of the sole proprietorship form of doing business is indicated by Riki’s dilemma in this question.
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[DOCX File]final 2 - Professor Tepfer's courses
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Given the cultural climate of the U.S., business failure and bankruptcy: A. mean the entrepreneur can never hope to start over.B. carry such a stigma that the entrepreneur is disgraced and ostracized.C. do not have to be the end for the entrepreneur.D. means that …
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[DOCX File]MS. RAGAZZO'S CLASSROOM
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ole proprietorship: form of business organization with one owner. P. artnership: form of business organization with 2 or more owners. Corporation: form of business organization owned by shareholders. Monopoly: market structure in which one business controls an entire industry. Oligopoly
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[DOC File]TRUE/FALSE - Valencia College
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Traditionally small business statistics classified the retirement of an owner of a sole proprietorship as a business failure. Answer: True LG: 2/LL: 2 Page: 185 . Rationale: Retirement and change of the legal form of business (i.e. partnership to a corporation) have traditionally been classified as a business …
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[DOC File]CHAPTER 1
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a. One of the advantages of the corporate form of organization is that there is no double taxation. b. The partnership form of organization has easy transferability of ownership. c. One of the disadvantages of the sole proprietorship form of organi-zation is that there is unlimited liability. d. Statements b …
a sole proprietorship quizlet

[DOC File]Solutions to Chapter 10 Problems
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16. Sole Proprietorship Income. John Mason operates a consulting business, Mason Enterprises, as a sole proprietorship. He had to transfer $100,000 of stocks and securities into Mason Enterprise’s name to show financial viability for the business. During the current year, the business had the following income and expenses from operations:
sole proprietorship definition quizlet

The proprietorship form of business organization quizlet