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12/11/21, 8:24 AM Quiz Chapter 4 - Forms of Business - 15 minutes: Attempt reviewFaculty of Business Administration
Chris Street
Dashboard / BUS 100-004/034 (Fall 2021) / Quiz Chapter 4 - Forms of Business - 15 minutes
Started on Thursday, 23 September 2021, 3:23 PM
State Finished
Completed on Thursday, 23 September 2021, 3:30 PM
Time taken 6 mins 56 secs
Marks 3.00/11.00
Grade 0.27 out of 1.00 (27%)
Question 1
Correct
Mark 1.00 out of 1.00
A corporation has most of the legal rights of a real person.
Select one:
True
False
The correct answer is 'True'.
Question 2
Incorrect
Mark 0.00 out of 1.00
A corporation must have more than one owner otherwise it must be set up as a sole proprietorship.
Select one:
True
False
The correct answer is 'False'.
https://urcourses.uregina.ca/mod/quiz/review.php?attempt=1512806&cmid=1534771 1/5
, 12/11/21, 8:24 AM Quiz Chapter 4 - Forms of Business - 15 minutes: Attempt review
Question 3
Correct
Mark 1.00 out of 1.00
If the business is incorporated, you must pay business tax whether you make money or not.
Select one:
True
False
The correct answer is 'False'.
Question 4
Incorrect
Mark 0.00 out of 1.00
You are 50% owner in a catering corporation. The business is closing down because it has $250,000 in unpaid business debts and just lost a
$750,000 lawsuit. What is your personal liability?
Select one:
a. $1,000,000
b. $375,000
c. $0
d. $500,000
e. $125,000
Your answer is incorrect.
The correct answer is: $0
Question 5
Incorrect
Mark 0.00 out of 1.00
Double taxation means that you paid roughly twice as much tax.
Select one:
True
False
The correct answer is 'False'.
https://urcourses.uregina.ca/mod/quiz/review.php?attempt=1512806&cmid=1534771 2/5
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