Answer the following statement(s) true (T) or false (F)
12. As a sole proprietorship, the owner is held personally liable for any problems the business incurs.
13. Fair use is a clearly defined area in U.S. law with absolute rules and boundaries.
14. A sole proprietorship is rarely the correct choice of legal structure for startups.
15. In a general partnership, if one partner is responsible for running the company into the ground, the other partner is not considered liable.
16. In a C corporation, the shareholders, not the corporation, are legally liable for a company’s actions.
17. Both the C-corp and the S-corp have to deal with double taxation, as there are two levels of tax to pay for both types of legal structures.
18. A disadvantage of a C corporation is that it cannot survive after the demise of its owners.
12. True
13. False
14. true
15. False
16. False
17. False
18. False
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Indicate whether the statement is true or false
Household Furnishings, Inc., distributes its merchandise on an interstate basis. Under the commerce clause, Congress has the power to regulate
A. any commercial activity in the United States. B. only activities that are in intrastate commerce. C. only activities that are in local commerce. D. only activities that are not in commerce.
If 10-year T-bonds have a yield of 6.2%, 10-year corporate bonds yield 8.5%, the maturity risk premium on all 10-year bonds is 1.3%, and corporate bonds have a 0.4% liquidity premium versus a zero liquidity premium for T-bonds, what is the default risk premium on the corporate bond?
A. 1.90% B. 2.09% C. 2.30% D. 2.53% E. 2.78%
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