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1. 2. 3. 4. 5. Harvey is selecting a business entity. He will be the sole owner. Which if the following entity types is not
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Harvey is selecting a business entity. He will be the sole owner. Which if the following entity types is not available to him? a. Corporation b. Limited Partnership c. Sole Proprietorship d. Limited Liability Company Which of the following is a disadvantage of a sole proprietorship? a. Complex tax filings b. Cannot obtain business loans c. Unable to hire employees d. Personal liability for business activities Donatello, Michaelangelo, and Raph are starting a new business. They cannot select on of the following entity types. Which one? a. Sole Proprietorship b. Partnership c. Limited Liability Company d. Corporation What is the level of liability on general partners? a. Guaranty b. Limited c. Common d. Joint and Several Moe, Larry, and Curly form a limited partnership. Moe and Larry are general partners. Curly is a limited partner who provided initial financing. If Moe borrows noney in the name of the partnership without the knowledge of the other partners and the partnership is not able to pay the money back, who is potentially iable for repaying the loan? a. Moe, Larry, and Curly, equally b. Moe and Larry c. Only Curly since he has money d. Only MoeStep by Step Solution
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