1. Joshua and Caleb created a firm that is a separate legal entity and will share ownership of that firm on a 60/40 basis. Which type of entity did they create if they have no personal liability for the firm's debts? A. Informal partnership B. Corporation C. Sole proprietorship D. General partnership 2. Which of the following functions would you expect to come under the responsibility of the Corporate Treasurer: A. Shareholder relationships, Income Tax reporting, Investments, Banking arrangements B. Financial reporting, Income Tax reporting, Investments, Banking arrangements C. Cost Accounting, Financial Reporting, Income Taxes, Systems Processing D. Investments, Banking arrangements, Credit Management, Cash Management 3. Samuel was recently hired to head up the management team at Anointment Corporation. After performing an assessment of the company, Samuel developed many short- term and long-term goals he would like to accomplish. Samuel will receive a bonus if profits grow 10% in the coming year. What should be Samuel's overall objective? A. Maximize the value of the firm for the shareholders B. Increase sales C. Focus on how he could maximize profits for the next year D. Reduce expenses 4. Corporations are "double taxed. Explain what this means and list the two ways owners of a corporation are "double taxed