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.   Name three advantages and three disadvantages of a Sole Proprietorship.

2.   In a General Partnership how are profits and losses shared if there isn't a written agreement?


3.   What is a Joint Venture?


4.   What IRS form is filed for a Partnership?


5.   Name three items that will increase and three items that will decrease the Basis in a Partnership.


6.   Name three Separately Stated items on a Partnership return.


7.   Name three Specially Allocated items on a Partnership return.


8.   What IRS form does a partner in a partnership receive with his share of income?

9.   What is a single member LLC also known as?


10. What is the different between an LLC and a S. Corporation?

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