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Unformatted text preview: =>yes they can 13) Does the act of one partner undo partnerships bindings? =>No 14) How is a corporation created? Chapter 5 Questionnaire =>by applying to the office of state of secretary. 15) What is the liability of corporations in case of claims and losses? =>only investments attached to the firm 16) What is one disadvantage of corporation? =>Double taxation 17) Can you show how a corporation has an advantage over proprietorship? =>Uncle Fed situation 18) What is subchapter S: corporation? =>avoids the double taxation 19) What are the two inherent disadvantages? =>Reduce the control 20) What are the seven major considerations to choose a particular legal structure? =>1) Taxation. 2) Cost to start the company. 3) Liability. 4) Flexibility. 5) Attraction of capital 6) _______ 7) __________...
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This note was uploaded on 11/11/2009 for the course CEIE 463 taught by Professor Bhargava during the Spring '09 term at George Mason.
- Spring '09