FIN 515 Week 4 Midterm Exam Set 1

Apr 24th, 2015
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FIN 515 Week 4 Midterm Exam Set 1

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Midterm week 4 Answers 1. (TCO A) Which of the following statements is CORRECT? (Points : 10) It is generally more expensive to form a proprietorship than a corporation because, with a proprietorship, extensive legal documents are required.Corporations face fewer regulations than sole proprietorships.One disadvantage of operating a business as a sole proprietorship is that the firm is subject to double taxation, at both the firm level and the owner level.One advantage of forming a corporation is that equity investors are usually exposed to less liability than in a regular partnership.If a regular partnership goes bankrupt, each partner is exposed to liabilities only up to the amount of his or her investment in the business.2. (TCO G) A security analyst obtained the following information from Prestopino Products' financial statements:- Retained earnings at the end of 2009 were

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