Identify the advantages of forming a business as an S Corporation. Multiple Choice O O owners avoid double taxation and owners have limited liability. treated as a separate legal entity and owners avoid double taxation owners have limited liability and corporation's earnings are tax free owner is personally responsible for debts of the business and earnings are reported directl

Identify the advantages of forming a business as an S Corporation. Multiple Choice O O owners avoid double taxation and owners have limited liability. treated as a separate legal entity and owners avoid double taxation owners have limited liability and corporation's earnings are tax free owner is personally responsible for debts of the business and earnings are reported directl

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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Question

Identify the advantages of forming a business as an S Corporation.
Multiple Choice
O
owners avoid double taxation and owners have limited liability
treated as a separate legal entity and owners avoid double taxation
owners have limited liability and corporation's earnings are tax free
owner is personally responsible for debts of the business and earnings are reported directl

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