Question 1
A corporation is an artificial person created by law.
Correct!
- Selected: True
- False
Question 2
Unlimited liability means that a sole proprietorship has the advantage of borrowing unlimited amount of money.
Correct!
- True
- Selected: False
Question 3
A voluntary association of two or more people acting as co-owners of a business is known as a corporation.
Correct!
- True
- Selected: False
Question 4
Profits of a large corporation are taxed twice, once as corporate income and again as personal income of stockholders.
Correct!
- Selected: True
- False
Question 5
Compared to a corporation, a partnership is more difficult and expensive to establish.
Correct!
- True
- Selected: False
Question 6
Corporation is the best way to own a business compared to sole proprietorship and partnership.<br><br>
Correct!
- True
- Selected: False
Question 7
For most people who are trying to start a new business as a sole proprietorship, they will normally rely on their personal funds compared to borrowing from banks.
Correct!
- Selected: True
- False
Result:
7/7
