QUESTION 1 A limited liability company offers the limited liability of a corporation and the tax treatment of a partnership or proprietorship. OTrue False QUESTION 2 An understatement of ending inventory will cause True an understatement of assets and equity on the balance sheet. False QUESTION 3 U.S. Government Treasury bonds provide low return and low risk to investors. OTrue False QUESTION 4 A service company earns net income by buying and selling merchandise. True False