Bul 3310 bailey - Study guides, Class notes & Summaries

Which of the following statements is true about a partnership name? (The name is an asset of the partnership that may be sold or assigned. The name must include the word "company" in it.) The partnership must comply with the state's assume name provisions. Both a and c - ️️Both a and c The owner of a limited liability company LLC has unlimited personal liability for the debts of the LLC. T/F? - ️️False Which of the following is NOT one of the recognized disadvantages of ...

What is the provision of the tax rule that makes income taxable only for the individuals who receive it, and not for the business entity that produces it? Double taxation Pass through Dividend retention Income averaging - ️️Pass Through Which of the following is NOT one of the recognized disadvantages of doing business as a corporation? A corporation must comply with a great number of state and federal regulations. Corporate profits are subject to double taxation. A corporation mus...

BUL 3310 FSU Bailey Exam 4, Exam 4 BUL 3310, BUL Final JWW

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BUL 3310 Exam 2 FSU Bailey

Absent an agreement otherwise, each partner is entitled to compensation for his or her services in managing the business T/F - ️️False A buy and sell agreement normally specifies the terms under which a withdrawing or deceased partner's interest will be bought out T/F - ️️True Subchapter S corporation will avoid double taxation if which of the following applies? A. All the shareholders agree to be taxed as in a partnership B. The corporation files Articles of Partnership in th...

BUL 3310 FSU Bailey Exam 4, Exam 4 BUL 3310, BUL Final JWW