BESR 3RD

55. Which form of business organization typically involves a single owner who retains all profits and has unlimited liability?

• Corporation

• Partnership

• Sole proprietorship

• Limited liability company

54. Which form of business organization involves two or more individuals sharing profits, losses, and liabilities?

• Corporation

• Partnership

• Sole proprietorship

• Limited liability company

53. Which form of business organization provides limited liability to its owners while allowing them to participate in management?

• Corporation

• Partnership

• Sole proprietorship

• Limited liability company

52. Which form of business organization is a legal entity separate from its owners and provides limited liability to its shareholders?

• Corporation

• Partnership

• Sole proprietorship

• Limited liability company

51. Which form of business organization has the advantage of easy formation and few regulatory requirements?

• Corporation

• Partnership

• Sole proprietorship

• Limited liability company

50. Which form of business organization typically involves complex legal formalities and is subject to double taxation?

• Corporation

• Partnership

• Sole proprietorship

• Limited liability company

49. Which form of business organization is suitable for professionals like doctors, lawyers, and accountants?

• Corporation

• Partnership

• Sole proprietorship

• Limited liability company

48. Which form of business organization allows for flexible management structures and profit distributions?

• Corporation

• Partnership

• Sole proprietorship

• Limited liability company

47. Which form of business organization has the potential for conflicts among owners due to shared decision-making?

• Corporation

• Partnership

• Sole proprietorship

• Limited liability company

46. Which form of business organization offers the advantage of continuity of existence beyond the lifespan of its owners?

• Corporation

• Partnership

• Sole proprietorship

• Limited liability company