Question 1

A _________ is designed for professional service firms such as accountants. This form of business provides limits on personal liability of the partners and allows "pass through" tax advantages.

Question 1 options:

A)	Partnership

B)	Limited liability partnership

C)	Limited liability company

D)	Corporation

Question 2

The business judgment rule means management will not be protected for their business decisions when the outcome turns out bad even if the decision was made in good faith.

Question 2 options:

	A) True
	B) False

Question 3

The Securities Act of 1994 and the Securities Act of 2001 are designed to protect investors from deceptive, unfair and manipulative practices when buying or selling securities.

Question 3 options:

	A) True
	B) False

Question 4

Undercapitalization is not one of the factors a court will consider when deciding to pierce the corporate veil.

Question 4 options:

	A) True
	B) False

Question 5

Which of the following options does not allow for pass through taxation?

Question 5 options:

A)	General Partnership

B)	Limited Liability Partnership

C)	Limited Liability Company

D)	All of the above allow pass through taxation