Answer the following questions using information found in Chapter 4. Credit will not be given if information found on the internet differs from information in the text. Please use Canvas to submit assignment.
1. What is a sole proprietorship? Give the pros and cons of selecting that form of business. (20) points
2. Explain the different types of partnerships. (10) points
3. Describe the issues that should be included in the partnership agreement.(10) points
4. What are the advantages and disadvantages of partnerships? (10) points
5. What is a corporation? (5) points
6. What is a closed corporation? (5) points
7. What is an open corporation? (5) points
8. What is a domestic corporation?(5) points
9. What is a foreign corporation? (5) points
10. What is an alien corporation? (5) points
11. Explain the Hierarchy of corporate structure. (10) points
12. What are the advantages and disadvantages of using a corporate structure? (10) points
13. What is an S Corporation? (10) points
14. What is an LLC? (10) points
15. Explain horizontal, vertical and conglomerate mergers. Give an example of each that is not in the book. (20) points
