Match Column A with Column B

1) Partnership a) a business owned by one person who is personally liable for all losses

2) Proprietorship b) An artificial being created by a state

3) Limited partnership c) two or more persons combine their efforts for a single transaction

4) Corporation d) created when shareholders elect to be treates as partners for tax purposes

5) legal capacity e) created by an agreement between two or more persons who agree to share profits and losses

6) buy-and-sell agreement f) provides for compensation to a deceased or withdrawing owner of a business in return for that owners interest.

7) Subchapter S corporation g) the ability of an organization to sue or to own property

8) joint venture h) exists when some partners are treated like shareholders for liability purposes

9) limited liability company i) tax doctine that allows income to be taxed at the owner level, not the organization level

10) "pass through" j) owners recieve limited liability and tax treatment as if they were a partnership without filing as a corporation.

Question

Match Column A with Column B

1) Partnership	a) a business owned by one person who is personally liable for all losses
2) Proprietorship	b) An artificial being created by a state
3) Limited partnership	c) two or more persons combine their efforts for a single transaction
4) Corporation	d) created when shareholders elect to be treates as partners for tax purposes
5) legal capacity	e) created by an agreement between two or more persons who agree to share profits and losses
6) buy-and-sell agreement	f) provides for compensation to a deceased or withdrawing owner of a business in return for that owners interest.
7) Subchapter S corporation	g) the ability of an organization to sue or to own property
8) joint venture	h) exists when some partners are treated like shareholders for liability purposes
9) limited liability company	i) tax doctine that allows income to be taxed at the owner level, not the organization level
10) "pass through"	j) owners recieve limited liability and tax treatment as if they were a partnership without filing as a corporation.

	a.	hiring.
	b.	demotion.
	c.	fringe benefits.
	d.	All of the above are covered by the Civil Rights Act.

	a.	Why did you leave your previous employment?
	b.	Do you have reliable child-care arrangements?
	c.	Would you be able to travel two days per week?
	d.	None of the above is a violation.

	a.	applies to companies with 20 or more employees.
	b.	requires applicable companies to provide 12 weeks of unpaid leave for family medical reasons.
	c.	allows an employee to take time off to care for a spouse, child, parent or parent-in-law.
	d.	All of the above are true for the FMLA.

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	a.	is the same as termination.
	b.	can result from a limited partner leaving the partnership.
	c.	can result from the death of a partner.
	d.	all of the above

	a.	tax reporting entity.
	b.	tax reporting and tax paying entity.
	c.	tax paying entity.
	d.	neither a tax reporting nor a tax paying entity.

	a.	a special class of close corporation under the MBCA.
	b.	an IRS tax treatment option for corporations owned by a limited number of shareholders.
	c.	a not-for-profit corporation.
	d.	none of the above

	a.	were outlawed under Title VII.
	b.	are violations of the Age Discrimination Act.
	c.	can be valid if they are not used to perpetuate past discrimination.
	d.	none of the above

	a.	The corporation pays double the tax rate of individuals.
	b.	The corporation pays taxes on its income and its shareholders pay taxes on their dividends from the corporation.
	c.	both a and b
	d.	none of the above