1-Pete and Michelle have big plans for a company they are starting. They plan to
ID: 2811082 • Letter: 1
Question
1-Pete and Michelle have big plans for a company they are starting. They plan to have it traded on the New York Stock Exchange. Because of this, which entity formation should they consider?
A. Corporation
B. Sole Proprietorship
C. Limited Liability Company
D. S-Corporation
2- THE ___ to the USE constitution protects individuals form arbitrary and unreasonable governmental intrusion on the right to privacy
A- Fifth amendment
B-Eighth amendment
C-Fourth amendment
D-Sixth amendment
3-For a person to be convicted of criminal behavior, which of the following statements should be true?
A- The state must demonstrate a prior statutory prohibition of the act
B-It should be proved that the person was insane at the time of commitment of the criminal act.
C-The criminal defendants should be presumed guilty
D- The person should commit a criminal act before a statute prohibiting the act is brought into effect
Explanation / Answer
1) Correct answer is A. Corporation
B is not applicable as it cannot be listed on exchange
C is also not applicable as it cannot be listed on an exchange
D is not applicable as S-corporation has less than 100 owners which again cannot be listed on an exchange
2) Correct option: C) Fourth amendment
3) Correct option: A) The state must demonstrate a prior statutory prohibition of the act
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