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- Which business entity could have common stock authorized? O A. a sole proprietorship O B. a partnership O C. a limited liability company O D. a corporation O E. All of the above could theoretically have common stock authorized.Explain the difference between an S corporation and a limited- liability company.Who is liable for a corporation's debts and obligations? OA. the limited partners OB. the general partners OC. the corporation OD. the registered agent OE. the shareholders
- bholaDistinguish between corporations and sole proprietorshipsin terms of the following characteristics:a. Owners’ liability for debts of the business.b. Transferability of ownership interest.c. Continuity of existence.d. Federal taxation on income.Which forms of business organization, ownership is readily transferable? a. Corporation b. Sole Proprietorship c. Limited Liability Company d. Partnership
- Differentiate between S and C corporations.Prepare a summary of the effects of the TCJA on the following entity types: S Corp, C Corp, LLC, and Partnership as it relates to corporate taxationCharacteristics of a corporation include a.shareholders who are mutual agents b.direct management by the shareholders (owners) c.shareholders who have limited liability d.its inability to own property