BUS 442- Exam 4 Questions With Correct
Answers
Sole Proprietorship - answerHas everything at risk
LLC is taxed _______ and a C-Corp is taxed _______. - answer1. Once
2. Twice
Limited Liability Company - answerOwners have limited liability and can participate actively
in its management
Most c...
Needs Loans or Equity - answer✔A Personal guarantee (loans)
- get people to invest (equity)
1,000,000 shares for $1 a piece
If private and sell to outside person.... - answer✔Must evaluate
Board of Directors - answer✔Lauren F. - Bus.
Dayshaun - Bus.
Abby F. - Finance
Logan - Accounting
Mitchell - Marketing
- Responsible for the Big Picture- Borrow money, sell stock, management
-Personally liable for breaches of financing duties
Exchange Act of 1934 - answer✔Required if stock is held by 2000 or more persons and has total
assets exceeding $10 million dollars
Inside Director
Outside Director - answer✔Anyone on the management team
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