8. Liability is one of the most critical reasons for establishing a:

a. Business

b. Limited liability company.

c. Partnership.

d. Sole proprietorship.

e. Corporation.

9. _________ is a type of ownership that is the least expensive to start.

a. Franchise

b. Corporation

c. General partnership

d. Limited partner

e. Sole proprietorship

10. Select the correct answer below.

Statement A. Corporations can go on for perpetuity.

Statement B. Sole proprietorship ceases to exist with the death of the owner.

a. Only statement B is correct.

b. Statement A and B would be correct by swapping corporations for sole proprietorship.

c. Neither statement above is correct.

d. Statement B is correct, while statement A is incorrect.

e. Both statements A and B are correct.