Do the following quiz

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1. The most popular form businesses choose to take is:

A.) C-Corporation

B.) Limited Liability Company

C.) Sole Proprietorship

D.) S-Corporation

2. A sole proprietorship is subject to double taxation.

A.) True

B.) False

3. The document one uses to start a Limited Liability Company are/is

A.) By-laws

B.) Articles of Incorporation

C.) Articles of Organization

D.) Operating Agreement

4. The biggest difference between a sole proprietorship and a Limited Liability Company is the individual liability of the owner(s).

A.) True

B.) False

5. The owners of a corporation are:

A.) The directors

B.) The shareholders

C.) The officers

D.) The members

6. An S-Corporation is similar to a C-Corporation in that it is its own entity formed to do business.

A.) True

B.) False

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