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Test Companies
Agenda
QUESTION 1: WHAT ARE CONSIDERED A GROUP OF PEOPLE WHO FORM A BUSINESS AND DO NOT PRESENT ANY DOCUMENTATION?
A sole proprietorship
A corporation
A company
A limited liability company
QUESTION 2: WHAT IS THE MAIN DIFFERENCE BETWEEN SOLE PROPRIETORSHIPS AND PARTNERSHIPS?
In sole proprietorships, taxes are paid separately for these companies
In sole proprietorships, the owners have no legal liability
In partnerships, the ownership of the business is held by a single person
In partnerships, the ownership of the business is shared by several people
QUESTION 3: IN WHAT TYPE OF PARTNERSHIP DO ALL PARTNERS HAVE EQUAL PERSONAL LIABILITY?
Corporation
General partnership
Limited partnership
Limited liability company
QUESTION 4: WHAT ROLE DO LIMITED PARTNERS USUALLY PLAY IN LIMITED PARTNERSHIPS?
Operations control
Financial support
Administrative
Legal
QUESTION 5: WHAT TYPE OF PROFESSIONALS DO LIMITED LIABILITY COMPANIES USUALLY USE?
Dumpsters
Plumbers
Builders
Physicians
QUESTION 6: SHOULD IT BE CLEAR WHEN YOU CREATE THE PARTNERSHIP HOW LONG IT WILL LAST?
No
Yes
QUESTION 7: WHAT IS A COMPANY COMPARED TO?
With a married couple
With a divorce
With a friendship
None of the above
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