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BUS 442- Exam 4 Questions With Correct Answers

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  • BUS 442
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  • BUS 442

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...

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  • October 16, 2024
  • 12
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BUS 442
  • BUS 442
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sirjoel
©SIRJOEL EXAM SOLUTIONS
10/11/2024 1:41 PM



BUS 442- Exam 4 Questions With Correct
Answers


Sole Proprietorship - answer✔Has everything at risk


LLC is taxed _______ and a C-Corp is taxed _______. - answer✔1. Once


2. Twice


Limited Liability Company - answer✔Owners have limited liability and can participate actively

in its management


Most common form of business organization - answer✔C- Corp


Steps in Becoming an LLC - answer✔1. File with state. Articles of Incorporation


- Delaware is the most popular state for incorporation

- Want to file in your home state unless big company


Articles of Corporation - answer✔- Name must have co. or inc. at the end


Matlock Real Estate Dev. & Mgt. Corp., Inc.

- Must include address to give notice

, ©SIRJOEL EXAM SOLUTIONS
10/11/2024 1:41 PM


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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