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Legal Entity discussion – Quiz
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Question 1 of 15
1. Question
Which is the business type which can be owned by only 1 person?
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Question 2 of 15
2. Question
The business entity having separate legal entity status is ………………?
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Question 3 of 15
3. Question
For which business entity, the business profits will be taxed at the personal income tax rate?
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Question 4 of 15
4. Question
Which business entity has the most legal & finance requirements to fulfill on a yearly basis?
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Question 5 of 15
5. Question
The owners of a company are referred to as:
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Question 6 of 15
6. Question
What are the worst disadvantages of a sole proprietorship?
Â
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Question 7 of 15
7. Question
Aparna and her sister wanted to start a textile business together. What is an advantage of organizing the business as a partnership rather than a company?
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Question 8 of 15
8. Question
Agreement that specifies all the conditions for a partnership?
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Question 9 of 15
9. Question
Profit & Loss Appropriation account is part of the accounting of which business form?
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Question 10 of 15
10. Question
In partnership accounts, separate Partners’ Capital Account is to be maintained for each partner. True or false?
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Question 11 of 15
11. Question
Choose the business form with the benefits of limited liability of a company and the flexibility of a partnership.
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Question 12 of 15
12. Question
The company incorporated by a single person is:
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Question 13 of 15
13. Question
Private companies can invite the public to apply for their shares. True or False?
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Question 14 of 15
14. Question
A public company can issue a prospectus. True or False?
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Question 15 of 15
15. Question
A legal entity owned by shareholders?
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