Bus 100 Small Business
Which of the following statements about the taxation of partnerships is true?
Partnerships file tax returns but pass profits and losses on to partners who report them on their tax returns.
_____ are organizations formed by individuals or businesses with similar interests to achieve greater economies of scale and economic power through collective ownership.
Cooperatives
Rebecca Siddoway own and operate Country Candies. Siddoway specializes in making rich, creamy toffees that she packages in attractive gift boxes and sells through the mail. What would be the advantage to Siddoway if she decides to incorporate her business?
Corporations have an enhanced ability to attract financing.
Which of the following is an advantage of sole proprietor ownership?
Freedom from government regulation
To avoid double taxation, a new entrepreneur may elect to organize as a(n):
S corporation
A _____ merger brings together companies in unrelated businesses to reduce risk
conglomerate
A is a business that is established, owned, operated, and often financed by one person
sole proprietorship