3/4 Yet another Friday...

Quotables:
"The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself."
Peter F. Drucker

1/ You may wish to look at the Document Manager under practice tests.

2/ 3.06 - Finish

2b/ BonusActivity?!?!?

3/ If time -

MAKE IT RIGHT

There is one error in each of the following sentences. Find the error and rewrite the statement making it true.

1. Pass-through taxation is primarily used in sole-proprietorships.

2. A business owned and operated by one person is a corporation.

3. The two types of partnerships are limited and unlimited.

4. With a sole proprietorship, the life of the business is unlimited.

5. With a limited partnership, both partners share equally in the profit and/or loss of the business.

6. Twenty percent of all businesses in the United States are sole proprietorships.

7. Partnerships are taxed less than other forms of business ownership.

8. Double taxation applies to sole-proprietorships and partnerships.

9. Partnerships are businesses owned by stockholders.

10. The two types of corporations are public and open.

11. With a sole proprietorship, there is complex record keeping.

12. Closed corporations open shares of stock to the general public.

13. A partnership is a combination of a partnership and a corporation.

14. Stockholders manage the daily operations of the corporation.

15. An advantage of a sole proprietorship is the limited liability of the stockholders.