Business Structures (Part 1)

Click the link below and listen to the audio- take the attached quiz at the link below. Please answer all questions before submitting. If you score a 70% or higher, then you will receive the 1 hr CE credit.

Video Link

Question 1: What is the primary purpose of the presentation provided by Kerrick Bachert PSC?

Question 2: Which business structure offers pass-through taxation and complete control to the owner?

Question 3: What is a disadvantage of a Sole Proprietorship?

Question 4: How much is the fee for filing the Certificate of Assumed Name form for a Sole

Question 5: In a General Partnership, who has unlimited personal liability?

Question 6: What paperwork is required to start a General Partnership?

Question 7: What is the filing fee for a Certificate of Limited Partnership in Kentucky?

Question 8: What is one advantage of a C-Corporation?

Question 9: What is one disadvantage of a C-Corporation regarding taxation?

Question 10: How much is the filing fee for registering a business name as a C-Corporation in Kentucky?

Question 11: What form must be filed to elect S Corporation Tax Status?

Question 12: What is one advantage of an S-Corporation regarding taxation?

Question 13: What is one disadvantage of an S-Corporation?

Question 14: How much is the filing fee for registering a business name as an LLC in Kentucky?

Question 15: What is one advantage of an LLC over a corporation in terms of flexibility?

Question 16: What is one disadvantage of an LLC concerning taxes?

Question 17: What is the primary consideration when choosing an organizational type?

Question 18: What document should be drafted by an attorney for an LLC?

Question 19: If a business owner wants to minimize personal liability, which business structure would you recommend?

Question 20: Which factor is NOT typically considered when choosing an organizational type?

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