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- Which business entity could have common stock authorized? O A. a sole proprietorship O B. a partnership O C. a limited liability company O D. a corporation O E. All of the above could theoretically have common stock authorized.Explain the difference between an S corporation and a limited- liability company.Who is liable for a corporation's debts and obligations? OA. the limited partners OB. the general partners OC. the corporation OD. the registered agent OE. the shareholders
- Which forms of business organization, ownership is readily transferable? a. Corporation b. Sole Proprietorship c. Limited Liability Company d. PartnershipDistinguish between corporations and sole proprietorshipsin terms of the following characteristics:a. Owners’ liability for debts of the business.b. Transferability of ownership interest.c. Continuity of existence.d. Federal taxation on income.Differentiate between S and C corporations.
- Prepare a summary of the effects of the TCJA on the following entity types: S Corp, C Corp, LLC, and Partnership as it relates to corporate taxation1) What is One Person Corporation? 2) How to register Sole Proprietorship in BIR and DTI?Characteristics of a corporation include a.shareholders who are mutual agents b.direct management by the shareholders (owners) c.shareholders who have limited liability d.its inability to own property