10. Establishment of a sole proprietorship is not relatively easy. 11. Which of the following entities does...

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10. Establishment of a sole proprietorship is not relativelyeasy.

11. Which of the following entities does not have limitedliability?
a. General partnership.
b. LLC taxed as a disregarded entity.
c. S corporation.
d. All of the above have limited liability.
12. True/False: Income that is generated from a soleproprietorship, net of expenses, is not subject to
income tax and self-employment tax.
13. Each of the following is a characteristic of a soleproprietorship EXCEPT:
a. Sole proprietorships are easy to establish but have complexadministration.
b. An advantage of sole proprietorships is that income flowsthrough and is not subject to
double taxation.
c. Limited liability is not an advantage of soleproprietorships.
d. All income, net of expenses, is subject to self-employmenttaxes.

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10 Incorporation of a sole proprietorship is an easy process Due to the ease of formation a sole proprietorship is the most favored form of organizing a business 11 The organisation does not have a limited liability is A general partnership and sole See Answer

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10. Establishment of a sole proprietorship is not relativelyeasy.11. Which of the following entities does not have limitedliability?a. General partnership.b. LLC taxed as a disregarded entity.c. S corporation.d. All of the above have limited liability.12. True/False: Income that is generated from a soleproprietorship, net of expenses, is not subject toincome tax and self-employment tax.13. Each of the following is a characteristic of a soleproprietorship EXCEPT:a. Sole proprietorships are easy to establish but have complexadministration.b. An advantage of sole proprietorships is that income flowsthrough and is not subject todouble taxation.c. Limited liability is not an advantage of soleproprietorships.d. All income, net of expenses, is subject to self-employmenttaxes.