34. Which of the following is an advantage of a proprictorship form of business? a. Proprictorships ean raise money through the sale of capital stock. b. Proprietorships will continue even after the death of the owner. c. A proprietor is shielded from the debts of the business. d. A proprietorship is fairly easy and inexpensive to start. c. The business will have a separate legal entity than the proprietor. 35. Which of the following is true of a corporation? a. A corporation does not file its own tax retum. b. A corporation has a limited tife. c. A corporation is relatively quick and easy to start. d. A comporation must have at least 10 owners. C. A corporation can raise money through the sale of capital stock. 36. Which of the following is a characteristic of a partnenship which states that a partner can obligate other partners to an agreement without their direct consent? a. Double taxation b. Mutunl agency c. Limited liability d. Incorporation e. Proprictorship 37. Which of the following is a reason for corporations to be more popular than ownership of proprictorships or partnerships? a. Income is taxed only once when eamed by the corporation. b. Corporations enjoy the feature of mutual agency. c. Incorporation is a relatively easy and quick process. d. Sharebolders have no personal liability for the debts of the corporation. c. The owners need not file separate tax return for the entity. 38. Limited linbility means: a. owners are personally liable for all of the business debts. b. no separation exists between the business and the ownership. c. the owner can quantify the amount of risk they fice. d. the income of the entily will be subject to double taxation. c. any owner can obligate the business and other owners for any unpaid debt. 39. Double taxation of income: a. increases net income. b. decreases the amount in disposal income. c. increases retained earnings. d. increases the amount of taxable income. c. reduces the liability of a shareholder