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Business Entities and the Law

Exam Questions: 20
Course Level: Basic
Pages: 100 | Content: 96, Supplemental: 4
NASBA Area of Study: Business Law
Not Acceptable for: Enrolled Agents
Version: 5645J

Deciding to start a business is just the beginning of many important decisions. One of the most important questions to ask is, "What is the best business form to choose?" This course covers many of the factors a business owner should consider when forming a business. PLEASE NOTE: Course material is similar to #5250: Business Law for Accountants; therefore, we recommend that you should not take both courses in the same CPE reporting period. Not acceptable for Enrolled Agents. All course material provided. No prerequisites. Course level: Basic

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Course Information

Table of Contents
  • Overview of Business Entities
  • Formation of Business Entities
  • Rights and Duties of Business Owners
  • Management and Control of Business Entities
  • Liability of Owners
Objectives
  • To recognize the key characteristics of various types of business entities
  • To apply the requirements for forming certain types of business entities
  • To delineate the rights and duties of business owners
  • To identify the rules governing the management and control of business entities
  • To recognize the circumstances under which business owners become personally liable for business obligations and debts

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.