Question

FILL BLANKS

29. There are about _____ million business firms in the United States.

30. A partnership is owned by __________________ people.

31. The key advantage of incorporation is _______________________________________.

The two main disadvantages of incorporation are:

32. __________DOUBLE TAXATION__________________________________ and

33. ________________________________________________.

A corporation is owned by its (34) __________________________ stockholders and its

(35) ______________________ stockholders.

22. Corporations collect about _____ percent of all business receipts:

a. 10

b. 30

c. 60

d. 90

25. The last to be paid off, whether the corporation does well or goes bankrupt, are

the:

a. employees.

b. bondholders.

c. common stockholders.

d. preferred stockholders.

Answer 1

29. There are about 28.8 million business firm's in the US

30. A partnership is owned by two or more people

31. The key advantage of incorporation is independent corporate existenxe

32. The two main disadantages of incorporation are double taxation and corporate Income tax payments

33. A corporation is owned by its member shareholders and common stockholders

22. Corporation collect about 90 percent of all business receipts

25. The last to be paid whether the corporation does well or goes bankrupt are the common stockholder's