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Personal Financial Planning > Ch 11 and 13 > Flashcards

Ch 11 and 13 Flashcards

1
Q

The period of time a person is expected to be in the work force is…

A

Work life expectancy

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2
Q

Which of the following expenditures will most likely decrease during retirement?

A

Retirement savings

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3
Q

Which of the following is an advantage of a sole proprietorship?

A

Ease to sell business assets

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4
Q

Which of the following is a special type of business entity created under state law with the primary purpose of transferring assets to younger generations?

A

Family limited partnership (FLP)

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5
Q

What is the charter document used in the formation of LLCs?

A

Articles of Organization

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6
Q

A C corporation is not allowed to take a…

A

Tax deduction for dividends distributed to shareholders

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7
Q

With LLCs capital is easier to raise than in…

A

A proprietorship

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8
Q

S corporations are not subject to…

A

Double taxation

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Personal Financial Planning (12 decks)

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