The advantages of a corporation compared to a sole proprietorship or partnership include:Multiple ChoiceThe ability of stockholders to make operating decisions for their company.Less paper work.Limited liability.Lower total taxes.

What benefit does a corporation have that a partnership and a sole proprietorship do not?A.An unlimited life spanB.A single ownerC.The ease of starting the businessD.Fewer rules and regulations

Which one of the following is an advantage of a sole proprietorship?Group of answer choicesA. Shares debt burden with others in the businessB. Make financial decisions in a teamC. Unlimited access to public findingD. Ease of starting a business

Identify the primary advantages of the corporate form of business compared to a sole proprietorship or partnership.Check All That ApplyLimited liabilityLimited liabilityAbility to raise capitalAbility to raise capitalLower taxesLower taxesLess paperworkLess paperworkEase of incorporationEase of incorporation

Which of the following is an advantage of a corporation over a partnership?Multiple ChoiceA corporation only pays taxes once, while a partnership is subject to double taxation.Setting up a corporation is easier, while setting up a partnership requires legal charters.A corporation does not need to send out quarterly financial statements, but a partnership does.A corporation has fewer regulatory controls than a partnership.As a legal entity, a corporation can enter into contracts without as much difficulty as a partnership.

What is the primary advantage of a limited liability company (LLC) over a sole proprietorship?Tax benefitsNo need for annual meetingsProtection from personal liabilityAbility to issue stock