LSB 3213 John Holden Oklahoma State Exam 3 Questions and Correct Verified Answers Latest Version
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Course
LSB 3213
Institution
LSB 3213
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
Which of the following is true about a sole proprietorship?
A) It is subject to cor...
LSB 3213 John Holden Oklahoma
State Exam 3 Questions and
Correct Verified Answers Latest
Version
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
Which of the following is true about a sole proprietorship?
A) It is subject to corporate income tax.
B) Sole proprietorships face double taxation.
C) The owner reports income and expenses on the owner's own tax return.
D) The owner must file a tax return on behalf of the business.
Which statement below is correct about a sole proprietorship?
A) It can have multiple owners.
B) It is created by filing bylaws.
C) It has low start-up costs and minimal filing.
D) It faces double taxation
✓ C) It has low start-up costs and minimal filing
Gwendolyn Melvin wishes to start a children's sports store called, "Just Let 'Em
Play!" as
a sole proprietor. What form must she file so that she can use another name
than her own?
A) Name Certificate
B) DBA Certificate
C) UCC-1 statement
D) Disclosure statement
✓ B) DBA Certificate
Master01 | September, 2024/2025 | Latest update
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