10/30/25, 5:14 PM COB 300 Finance Exam 1 (Liu) questions and answers Flashcards | Quizlet
COB 300 Finance Exam 1 (Liu) questions and
answers
Save
Practice questions for this set
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used for professional firms
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1 Finance 2 Maximized as Corporation
3 Partnership 4 LLP (Limited Liability Partnership)
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Terms in this set (38)
https://quizlet.com/1100954246/cob-300-finance-exam-1-liu-questions-and-answers-flash-cards/?new 1/5
, 10/30/25, 5:14 PM COB 300 Finance Exam 1 (Liu) questions and answers Flashcards | Quizlet
the system that includes the circulation of money, the
Finance granting of credit, the making of investments, and the
provision of banking facilities
financial management
Three Parts Finance is
capital markets
Divided Into
investments
a law passed by Congress that requires the CEO and
Sarbanes-Oxley Act CFO to certify that their firm's financial statements are
accurate.
Proprietorship a business owned by one person
Partnership a business owned by two or more people
Advantages of few regulations
Proprietorship and no corporate income tax
Partnership easy to set up
Disadvantages of unlimited liability
Proprietorship and limited life
Partnership difficult to raise capital
a business owned by stockholders who share in its
Corporation
profits but are not personally responsible for its debts
limited liability
Advantages of ability to raise capital
Corporation easy transfer of ownership
unlimited life
Disadvantages of double taxation
Corporation expensive set up and report filing
limited liability, pass through income taxation,
LLC (Limited Liability flexibility
Company)
only responsible for their investments
LLP (Limited Liability used for professional firms
Partnership)
https://quizlet.com/1100954246/cob-300-finance-exam-1-liu-questions-and-answers-flash-cards/?new 2/5
COB 300 Finance Exam 1 (Liu) questions and
answers
Save
Practice questions for this set
Learn 1 /7 Study with Learn
used for professional firms
Choose an answer
1 Finance 2 Maximized as Corporation
3 Partnership 4 LLP (Limited Liability Partnership)
Don't know?
Terms in this set (38)
https://quizlet.com/1100954246/cob-300-finance-exam-1-liu-questions-and-answers-flash-cards/?new 1/5
, 10/30/25, 5:14 PM COB 300 Finance Exam 1 (Liu) questions and answers Flashcards | Quizlet
the system that includes the circulation of money, the
Finance granting of credit, the making of investments, and the
provision of banking facilities
financial management
Three Parts Finance is
capital markets
Divided Into
investments
a law passed by Congress that requires the CEO and
Sarbanes-Oxley Act CFO to certify that their firm's financial statements are
accurate.
Proprietorship a business owned by one person
Partnership a business owned by two or more people
Advantages of few regulations
Proprietorship and no corporate income tax
Partnership easy to set up
Disadvantages of unlimited liability
Proprietorship and limited life
Partnership difficult to raise capital
a business owned by stockholders who share in its
Corporation
profits but are not personally responsible for its debts
limited liability
Advantages of ability to raise capital
Corporation easy transfer of ownership
unlimited life
Disadvantages of double taxation
Corporation expensive set up and report filing
limited liability, pass through income taxation,
LLC (Limited Liability flexibility
Company)
only responsible for their investments
LLP (Limited Liability used for professional firms
Partnership)
https://quizlet.com/1100954246/cob-300-finance-exam-1-liu-questions-and-answers-flash-cards/?new 2/5
