P&Q University: Lesson 14 Quiz Answers

1. An excise tax levied by numerous state governments usually assessed at the same rate as sales tax

2. Corporations can sell their stock, be it common or preferred shares, while S corporations can only issue one class of stock

3. Use wet or chemical dust-suppression systems

4. A documented road map to be followed in the event of the owner, partner or shareholder’s death, disability or retirement

5. Cross-purchase agreements and entity-purchase agreements

6. Family limited partnership and family limited liability company

7. A reverse merger, also known as a reverse takeover (RTO) or reverse IPO

8. IPO deals depend on market conditions, which constantly change