Set up a Business Entity

Set up a Business Entity

Assessment

Interactive Video

Business, Social Studies

University

Hard

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The video tutorial explains the process of forming business entities, focusing on LLCs and corporations. It covers the default formation of partnerships, the necessity of filing with the Secretary of State, and the steps to reserve a business name. The tutorial details the information required for articles of organization, including location, registered agent, and promoter role. It also discusses stock issuance for corporations and the importance of adhering to state requirements. Finally, it explains obtaining certificates of incorporation or organization, which legally recognize the business.

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7 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the two main types of business entities that must be filed publicly?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the process to register a business entity as a foreign entity in another state?

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What must be done to ensure a business name is available for use?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

What information is typically required in the articles of organization?

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the role of a registered agent in a business entity?

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6.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the requirements for identifying owners in an LLC compared to a corporation?

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7.

OPEN ENDED QUESTION

3 mins • 1 pt

What is the difference between a certificate of incorporation and a certificate of organization?

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