. Which legal entity is generally best suited for going public? A) Corporation. B) General Partnership C) LLC. D) Limited Liability Partnership E) All of these entities are equally suited for going public. 2 Which legal entity provides the least flexible legal arrangement for owners? A) Corporation. B) Partnership C) Sole Proprietorship D) LLC 3. What document must LLCs file with the state to organize their business? A) Partnership agreement. B) Articles of organization. C) Certificate of LLC. D) None of the choices are correct. LLCs do not have to file with the state to organize their business. On which tax form does a single member LLC with one individual owner report its income and losses? 4. A) Form 1120S. B) Form 1120 C) Form 1065 D) Form 1040, Schedule C. 5. Which of the following is not information required to be included in an S corporation income tax return? A) Items of gross income and allowable deductions B) Names and addresses of all persons owning stock in the corporation at any time during the tax year C) Each shareholder's adjusted basis in the corporation's stock. D)Number of shares owned by each shareholder at all times during the tax year