Daniel and Ian run a law firm in downtown Phoenix. The firm has debt of $100,000, but Daniel and Ian will not be held personally liable for the firm's debts. The business organization is the type that requires Daniel and Ian to report all business-related income on their personal tax returns. This is an example of:
O A corporation
O A proprietorship
O A partnership
O An LLP/LLC
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Daniel and Ian run a law firm in downtown Phoenix. The firm has debt of $100,000, but Daniel and Ian will not be held personally liable for ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
8. Sam bought a house that costs $500,000. Sam got a 96% LTV loan. The lender demanded that Sam buy private mortgage insurance to insure the portion of the loan over 75% LTV. Suppose 5 years later, Sam's mortgage balance is $400,000.
Answers (1)
If an organization's requirements conflict with the software package chosen, and the package cannot be customized, the organization should: A. change its procedures. B. select a different package. C. redesign the RFP. D.
Answers (1)
Blue Stone purchased a one-year liability insurance policy on January 1st of this year for $3,600 and recorded it as a prepaid expense. From the selections of a. through d.
Answers (1)
Meet a market meaning?
Answers (1)
Q - to raise awareness of what you're advertising without limiting who might see your ads, you should:
Answers (1)
New Questions in Business
An oligopolistic market structure is distinguished by several characteristics, one of which is a difficult entry. Which of the following are other characteristics of this market structure? Check all that apply. a. Market control by many small firms.
Answers (1)
Who should you' alert that you are interviewing for jobs? A. Your references B. Other possible employers C. Your classmates D. Your present employer
Answers (1)
Common allocation bases are a. direct labor dollars, direct labor hours, and machine dollars b. machine dollars, direct labor dollars, and direct labor hours c. direct labor dollars, direct labor hours, and machine hours d.
Answers (1)
George and Weezy received $30,200 of Social Security benefits this year ($12,000 for George; $18,200 for Weezy). They also received $5,000 of interest from jointly owned City of Ranburne Bonds and dividend income.
Answers (1)
Which of the following is true regarding the high-tech industry today? a. It generally depends on a pool of low-skilled labor. b. It has led to the increased economic development of previously rural areas. c.
Answers (1)