100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
esb test Question and answers verified to pass 2024 $13.49   Add to cart
Quickly navigate to
Preview
  2.  
  3. Esb
  4.  
  5. Esb
  6.  
  7. Esb

Exam (elaborations)

esb test Question and answers verified to pass 2024
 4 views  0 purchase
  • Course
  • Esb
  • Institution
  • Esb

esb test Question and answers verified to pass 2024 C-Corporation: - correct answer • Shareholders are not personally responsible for business liabilities. • Taxed twice business pays at the corporate level, and shareholders pay on income received. A separate tax return is required for the...

[Show more]

Preview 2 out of 8  pages

Document information

  • August 23, 2024
  • 8
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • esb test
  • esb test question and answers verified to pass 20

Written for

  • Esb
All documents for this subject (997)

Seller

avatar-seller
Carzola98

Reviews received

Content preview

esb test
C-Corporation: - correct answer ✔• Shareholders are not personally
responsible for business liabilities.
• Taxed twice business pays at the corporate level, and shareholders pay on
income received. A separate tax return is
required for the business.


S-Corporation: - correct answer ✔• Shareholders are not personally
responsible for business liabilities.
Taxed once only the shareholders pay on profits received. A separate tax
return is required for the business.


Sole Proprietorship: - correct answer ✔One owner maximum.
The owner is personally responsible for business liabilities. No personal
liability protection.
• Taxed once--you pay on profits in your personal tax return. Separate tax
return not needed.


Limited Liability Company (LLC): - correct answer ✔• Members are not
personally responsible for business liabilities.
An LLC can choose how to be taxed by filing form 8832 with the IRS. An LLC
can elect to be taxed as a Sole
Proprietorship, Partnership, S Corp, or C Corp. An LLC is not recognized
globally; you may be taxed as a corporation in
other countries.


CEO - correct answer ✔The highest-ranking employee in the
company; reports to the board of

, directors.


CFO - correct answer ✔Creates budgets, analyzes financial
data, and forecasts company profits.


CIO - correct answer ✔Develops policies and structures to
protect company data.


COO - correct answer ✔Oversees the day-to-day
administrative functions of a
business; second in command.


1. Existence - correct answer ✔The business introduces itself to the market
and attempts to catch the attention of potential customers.


2. Survival of the Fittest - correct answer ✔Focus shifts to revenue,
expenses, and growth. Cashflow is the major issue.


3. Success - correct answer ✔Company is stable and profitable.


4. Takeoff - correct answer ✔Expansion strategies are implemented, and
investment is balanced with potential.


5. Maturity - correct answer ✔The business is separate from the owner with
responsibilities delegated to staff. A business in this stage usually
commands a considerable share of the market and may even be a household
name.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Carzola98. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $13.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73091 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$13.49
  • (0)
  Add to cart