Select the key advantages as they apply to: (Sole) Proprietorship
BizInnovator Startup - Starting Your Startup

Flashcard
•
Business
•
9th - 12th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
All decisions made by 1, few restrictions, low startup costs, no add fed. taxes, all profit kept by 1
2.
FLASHCARD QUESTION
Front
Select the key advantages as they apply to: General Partnership
Back
Owners can deduct many losses on personal returns; losses share between partners
3.
FLASHCARD QUESTION
Front
Key advantages of a Limited Partnership include: Good for raising money; General partners get money but maintain authority; Limited partners can leave any time.
Back
Good for raising money; General partners get money but maintain authority; Limited partners can leave any time.
4.
FLASHCARD QUESTION
Front
Select the key advantages as they apply to: C-Corp (default corporation)
Back
Stocks provide funding options; many tax deductions; no shareholder liability
5.
FLASHCARD QUESTION
Front
Select the key advantages as they apply to: S-Corp
Back
No corporate taxation; no double taxation, no shareholder liability
6.
FLASHCARD QUESTION
Front
Select the key advantages as they apply to: LLC
Back
Protected from liability, easy startup, no add fed. taxes
7.
FLASHCARD QUESTION
Front
Select the key advantages as they apply to: Nonprofit
Back
Serve the common good, exempt from taxes
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