|Which of the following is not one of the three types of business arrangements in the United States?
|With a sole proprietorship, who pays the taxes?
|Which of the following would not be considered an advantage of a sole proprietorship?
||A proprietor is also responsible for his or her own health insurance.
|What can a proprietor do to minimize personal risk and liability?
||Form a limited liability company
|Why are partnerships often favored over corporations?
||A partnership structure eliminates the dividend tax levied upon profits realized by the owners.
|What are the two types of partnerships?
||Linited and General
|Which of the following would not be considered an advantage of partnership?
||Each general partner is deemed the agent of the partnership
|As a generic legal term, ______ means any group of persons with a legal entity.
|Who regulates a corporation?
||The government of the state, province, or national government with which it is registered.
|Which of the following is not a legal characteristic of a corporation?
||Legal protection from law suits