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LSB 3213 John Holden Oklahoma State Exam 3 (Questions & Answers) Rated 100%
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  • LSB 3213 John Holden Oklahoma State

An enterprise may not be a Subchapter S corporation if it owns more than __________ of the stock of a subsidiary corporation. A) 60 percent B) 80 percent C) 70 percent D) 50 percent - B) 80 percent After the ULLCA was created, some states have started to adopt an act that modifies it called ...

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  • August 21, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • lsb 3213 john holden oklahoma state

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  • LSB 3213 John Holden Oklahoma State
  • LSB 3213 John Holden Oklahoma State

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LSB 3213 John Holden Oklahoma State
Exam 3
An enterprise may not be a Subchapter S corporation if it owns more than __________ of

the stock of a subsidiary corporation.

A) 60 percent

B) 80 percent

C) 70 percent

D) 50 percent - B) 80 percent



After the ULLCA was created, some states have started to adopt an act that modifies it called

A. Reform Limited Company Act

B. Reformed Limited Liability Corporation Act

C. Revised Uniform Limited Liability Company Act

D. Revised Limited Company Formation Act - C. Revised Uniform Limited Liability Company Act



A limited partnership requires

A. at least one general and one limited partner.

B. at least two limited partners.

C. at least two general partners.

D. a written limited partnership agreement. - A. at least one general and one limited partner.



A limited partnership requires

A) at least two general partners.

B) at least two limited partners.

C) a written limited partnership agreement.

D) at least one general and one limited partner. - D) at least one general and one limited partner

, After the ULLCA was created, some states have started to adopt an act that modifies it

called

A) Revised Limited Company Formation Act

B) Reform Limited Company Act

C) Reformed Limited Liability Corporation Act

D) Revised Uniform Limited Liability Company Act - D) Revised Uniform Limited Liability Company
Act




All of the following are methods that a sole proprietorship can raise money except

A) Private loans.

B) Commercial loans.

C) Sell ownership in the business.

D) Line of credit - Sell ownership in the business



An LLC offers principals the same liability coverage as that of

A. principals in corporations with taxation at the business entity level.

B. general partners in a partnership with taxation at the business entity level.

C. limited partners in a partnership with pass-through taxation.

D. principals in corporations with pass-through taxation. - D. principals in corporations with pass-
through taxation.



An LLC offers principals the same liability coverage as that of

A) principals in corporations with taxation at the business entity level.

B) limited partners in a partnership with pass-through taxation.

C) general partners in a partnership with taxation at the business entity level.

D) principals in corporations with pass-through taxation - D) principals in corporations with pass-
through taxation



An owner of a corporation is called

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