What are the advantages and disadvantages of a limited liability company?
What will be an ideal response?
Limited liability companies (LLCs) have limited liability and are not doubly taxed. Unfortunately, since the profits are reported on the investor's tax return, increased profits can raise personal taxes.
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What is "maximizing profits" as a social responsibility theory in business?
A) the theory that a corporation must consider the effects its actions have on persons other than its shareholders B) the theory that a corporation's duty is to make a profit while avoiding causing harm to others C) the theory that a corporation owes a duty to take actions that increase profits for shareholders D) the theory that a business has a responsibility solely to its stakeholders
A(n) ________ is an interest in real property that provides the public a temporary right to enter a business for the purpose of purchasing goods or services
A) license B) leasehold C) conditional estate D) easement