ACC 205 week 4 quiz (All correct)

Question 1. 1. A sole proprietorship has a perpetual existence. (Points : 1)

Question 2. 2. For tax purposes a partnership and a corporation are treated in an identical manner. (Points : 1)

Question 3. 3. When a corporation issues common stock the stock holders are not guaranteed dividends in the future. (Points : 1)

Question 4. 4. If a firm wants to conduct business in multiple states then the firm cannot be a sole proprietorship. (Points : 1)

Question 5. 5. A partner is allowed to contribute property that is still being paid for into the partnership. (Points : 1)