Do the following quiz
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1. The most popular form businesses choose to take is:
A.) C-Corporation
B.) Limited Liability Company
C.) Sole Proprietorship
D.) S-Corporation
2. A sole proprietorship is subject to double taxation.
A.) True
B.) False
3. The document one uses to start a Limited Liability Company are/is
A.) By-laws
B.) Articles of Incorporation
C.) Articles of Organization
D.) Operating Agreement
4. The biggest difference between a sole proprietorship and a Limited Liability Company is the individual liability of the owner(s).
A.) True
B.) False
5. The owners of a corporation are:
A.) The directors
B.) The shareholders
C.) The officers
D.) The members
6. An S-Corporation is similar to a C-Corporation in that it is its own entity formed to do business.
A.) True
B.) False
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