Question 11 Greg and Tom decided to create a business together mowing lawns and providing landscaping service. Greg and Tom will contribute equally to purchasing necessary tools and equally share in the decision making and in the profits or losses. Which type of business did they create if they both have full personal liability for the firm's debts? Limited liability partnership Sole proprietorship a. b. Corporation C. General partnership d. Joint stock company e. Question 12 Townhall Inc. reported $100,000 in Net Income. If the tax rate is 40%, how much did it pay in tax? $95,345.55 a. b. $66,666.67 $75,432.77 C. d. $83,452.55