Which of the following statements is true?
A) Corporations can issue stocks and bonds, while proprietorships cannot.
B) Corporations have one owner, while proprietorships have many owners.
C) Corporations face fewer taxes than do proprietorships.
D) Proprietorships have limited liability while corporations have unlimited liability.
Answer: A
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A U.S. citizen buys a tea kettle manufactured in China by a company that is owned and operated by U.S citizens. In which of the following components of U.S. GDP is this transaction accounted for?
a. consumption and imports b. consumption but not imports c. imports but not consumption d. neither consumption nor imports
A tariff
A) makes everyone worse off.
B) makes domestic consumers better off.
C) makes domestic producers better off.
D) makes both domestic producers and consumers better off.
If a developing country wants to limit the ability of its citizens to purchase foreign assets, but does not want to restrict other international transactions, it would offer:
A. not allow convertibility of domestic currency into foreign currency. B. convertibility on the capital account. C. full convertibility. D. convertibility on the current account.
Which of the following is NOT a deficit item on the international accounts balance sheet for a country?
A. imports of merchandise B. purchases of foreign currency C. exports of merchandise D. military spending abroad