For federal income tax purposes, what term refers to the business entity not being a separate entity from the owners? This type of entity is not taxed but the owner(s) must record the earnings from the business on his/her individual income tax return.

For federal income tax purposes, what term refers to the business entity not being a separate entity from the owners? This type of entity is not taxed but the owner(s) must record the earnings from the business on his/her individual income tax return.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Group of answer choices

pass-through entity

non-profit entity

election entity

mutual entity

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