🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
Accounting
8
answers
0
watching
462
views
21 Feb 2020

An owner who wants to have limited liability should form which type of business enterprise?

 

  1. Partnership

  2. Corporation

  3. Proprietorship

  4. sole proprietorship

Watch
8
answers
0
watching
462
views

For unlimited access to Homework Help, a Homework+ subscription is required.

Unlock all answers

Get 1 free homework help answer.
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Already have an account? Log in
Share
Elin Hessel
Elin HesselLv2
21 Feb 2020
Already have an account? Log in
Share

Related questions

Which one of the following statements concerning a sole proprietorship is correct?

a. The profits of a sole proprietorship are subject to double taxation.

b. The owner of a sole proprietorship is personally responsible for all of the company's debts.

c. There are very few sole proprietorships remaining in the U.S.A. today.

d. A sole proprietorship is the least common form of business ownership.

Assume you and your spouse are starting a business that you think will make a large profit from very beginning. The business will have medium liability risk. You have personal asset of around half a million dollars. Which type of organization would you choose(corporation, S- corporation, partnership,or sole proprietorship)?why?

What is the tax implications of each of the business formslisted below:

Sole proprietorship: Schedule C of Form 1040.

Partnership: Form 1065.

Corporation: Form 1120.

S corporation: Form 1120S.

Weekly leaderboard

Home
Homework Help 3,900,000
Accounting 580,000
Start filling in the gaps now
Log in