True or False 1

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True or False

1.     T / F          A limited partner has the same level of liability as any other partner

2.     T / F          A partnership agreement can allocate the levels of legal liability between partners for the partnership's actions

3.     T / F          Preferential shares in a corporation do not bring with them voting rights

4.     T / F          A sole proprietor will be taxed at the personal income tax rate

5.     T / F          As a corporation is a separate person, under no circumstances can the directors, officers and shareholders be held liable for the actions of the corporation

6.     T / F          Partners are agents of each other 

7.     T / F          Insurance is rarely available for sole proprietorships and partnerships

8.     T / F          The sale of bonds by a corporation creates an ownership interest in the corporation for the buyer