Indicate whether the statement describes a corporation, a sole proprietorship, a partnership or a limited liability company (LLC). Jiffy Auto & Lube is a separate legal entity from its Choose. owner, but it does not pay a business income tax. Udeh and Opechi own Financial Services, Inc. which pays a business income tax. Udeh and Opechi do not have Choose. personal responsibility for the debit of Financial Services, Inc. Ownership of Amazon Company is divided into 1,000 shares of stock. The company pays a business income Choose. tax. ITT Services does not have separate legal existence Choose. apart from the one person who owns it, Igwe and Briggs own Seedy Packaging, a shipping service. Both gentlemen are personally liable for the Choose. debts of the business.
Indicate whether the statement describes a corporation, a sole proprietorship, a partnership or a limited liability company (LLC). Jiffy Auto & Lube is a separate legal entity from its Choose. owner, but it does not pay a business income tax. Udeh and Opechi own Financial Services, Inc. which pays a business income tax. Udeh and Opechi do not have Choose. personal responsibility for the debit of Financial Services, Inc. Ownership of Amazon Company is divided into 1,000 shares of stock. The company pays a business income Choose. tax. ITT Services does not have separate legal existence Choose. apart from the one person who owns it, Igwe and Briggs own Seedy Packaging, a shipping service. Both gentlemen are personally liable for the Choose. debts of the business.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
2. options are
Sole propitership
LLC
Corparation
Transcribed Image Text:Indicate whether the statement describes a corporation, a sole
proprietorship, a partnership or a limited liability company (LLC).
Jiffy Auto & Lube is a separate legal entity from its
Choose.
owner, but it does not pay a business income tax.
Udeh and Opechi own Financial Services, Inc. which pays
a business income tax. Udeh and
chi do not have
Choose.
personal responsibility for the debit of Financial
Services, Inc.
Ownership of Amazon Company is divided into 1,000
shares of stock. The company pays a business income
Choose.
tax.
ITT Services does not have separate legal existence
Choose.
apart from the one person who owns it,
Igwe and Briggs own Seedy Packaging, a shipping
service. Both gentlemen are personally liable for the
Choose.
debts of the business.
410220o....:J
404016
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