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Business, 27.07.2019 19:30 avaleasim

Asap1. which form of business organization has two different types of partners? (1 point) a. corporation b. limited partnership c. general partnership d. sole proprietorship 2. all of the following are factors that would terminate a general partnership except (1 point) a. a partner filed for bankruptcy. b. the disability of one or more of the partners. c. the death of one or more of the partners. d. a partner is deemed legally insane. 3. in order for andrew to start a business, he had to file articles of organization with the office of the secretary of state. what type of business organization is andrew starting? (1 point) a. sole proprietorship b. general partnership c. limited liability company (llc) d. corporation 4. to form a sole proprietorship, is required. (1 point) a. completion of a simple federal form b. a local business license c. an application procedure as defined by the state in which the sole proprietor lives d. a letter of intent to the sole proprietor’s locality 5. which of the following statements accurately captures the taxation of sole proprietorship? (1 point) a. taxes are reported on the sole proprietor’s personal income taxes. b. losses are reported on the sole proprietor’s personal income taxes; earnings are reported at the business level. c. only losses are reported for the first three years as an incentive for individuals to start businesses. d. state and local taxes are waived for the first three years; federal taxes are reported on a personal income tax form.

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