1. Which of the following entity(ies) is (are) considered flow-through? a. Sole proprietorship b. C corporation c. Publicly traded corporation d. S corporation

Which forms of business organization, ownership is readily transferable? a. Corporation b. Sole Proprietorship c. Limited Liability Company d. Partnership

Differentiate between S and C corporations.

Which financial instrument represents ownership in a corporation and entitles the holder to a share of the companys profits? a. Bond b. Preferred Stock c. Common Stock d. Debenture

Prepare a summary of the effects of the TCJA on the following entity types: S Corp, C Corp, LLC, and Partnership as it relates to corporate taxation

Characteristics of a corporation include a.shareholders who are mutual agents b.direct management by the shareholders (owners) c.shareholders who have limited liability d.its inability to own property

Define closely held corporation

Differentiate between closely held and publicly owned corporations.

Which of the following is a characteristic of a corporation?a. No income taxb. Limited liability of stockholdersc. Mutual agencyd. Both b and c

The economic entity assumption requires that the activities Select one: a. of a sole proprietorship cannot be distinguished from the personal economic events of its owners. b.of an entity be kept separate from the activities of its owner. c. of different entities can be combined if all the entities are corporations. d.must be reported to the Securities and Exchange Commission.