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"Education is the most powerful weapon which you can use to change the world”
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Quiz 1 Chapter 12

Quiz 1 Chapter 12

Q • Question 1 0.2 out of 0.2 points A form of legal entity that provides limited liability to its owners but is treated as a partnership for tax purposes is called what? • Question 2 0.2 out of 0.2 points A form of legal entity that is owned by a single individual is called what? • Question 3 0.2 out of 0.2 points A form of legal entity that is an association of two or more persons who own and manage a business for profit is called what? • Question 4 0.2 out of 0.2 points Which of the following is NOT a characteristic of a proprietorship? • Question 5 0.2 out of 0.2 points Which of the following is NOT a characteristic of a partnership?

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1 limited liability company (LLC) 2 proprietorship