• April 19th, 2016

CRQ 13

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Chapter 13 Review Questions: 1. What is a sole proprietorship? What are the benefits of this type of business entity? What are the shortcomings? 2. What is a partnership? What are the benefits of this type of business entity? What are the shortcomings? 3. What is a limited partnership? What are the benefits of this type of business entity? What are shortcomings? 4. What is a corporation? What are the benefits of this type of business entity? What are the shortcomings? 5. What are the differences between “S” and “C” corporations? 6. What is an LLC? What are the benefits of this type of business entity? What are the shortcomings? 7. What does the term “corporate veil” refer to? 8. What does the term “alter ego” refer to? 9. What is a title search? 10. What is a lien? How do liens effect the title of aircraft? 11. What is a chattel mortgage?

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