BUS 110 EXAM 2 QUESTIONS WITH CORRECT DETAILED ANSWERS A+ ALREADY GRADED 100% PASS

BUS 110 EXAM 2 QUESTIONS WITH CORRECT DETAILED ANSWERS A+ ALREADY GRADED 100% PASS Partnership - correct answers-a legal form of business with two or more owners Limited Partner - correct answers-is an owner who invests in money in the business but does not have any management responsibility or liability for losses beyond his or her investment General Partner - correct answers-is an owner who has unlimited liability and is an active in managing the firm Sole Proprietorship - correct answers-A business that is owned and usually managed by one person Corporation - correct answers-A legal entity with authority to act and have liability apart form its owners Double Taxation - correct answers-income taxes that are paid twice on the same source of earned income LLC - correct answers-(limited liability company) a company similar to an S corp. but without the special eligibility requirement