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Exam (elaborations)

Business Law Question and answers

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2025/2026 Written for academic year
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Business Law Question and answers in a sole proprietorship, the owner and the business are entirely seperate -false The income of a sole proprietorship is taxed to the owner as personal income -true unless a partnership agreement specifies otherwise, profits are shared in the same ratio as capital contributions -false an LLC doesn't offer the limited liability of a corporation -false in an LLC the members are similar to shareholders in a corporation -true In a limited partnership the liability of the general partner is limited to their capital contributions - false in a limited liability partnership, no partner is ex

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