Which of the following characteristics best describes a corporation?  a. A business with a single owner b. Is not taxed c. Stockholders not personally liable for entity’s debts d. Not a separate taxable entity

Q: Which of the following is not an advantage of a corporation? O Double taxation Continuous life…

A: Double taxation means income tax paid twice on company's income.So, it is not an advantage for…

Q: For federal income tax purposes, what term refers to the business entity not being a separate entity…

A: A mutual entity is an entity that involves a private company or a public company. The shareholders…

Q: What is an owner of a corporation called? What is the difference between a closed corporation and…

A: Disclaimer: “Since you have asked multiple questions, we will solve the first question for you. If…

Q: A C corporation can be described as:  (a) A business that is separate and distinct from its owners,…

A: Introduction:- There are primarily three types of corporations that businesses form based on…

Q: Which of the following characteristics of a corporation limits a stockholders losses to the amount…

A: The stockholders will share loss of corporation.

Q: Other than corporations, are there other legal business entities that offer liability protection?…

A: The business can be done through different type of entities. The type of entities will be decided by…

Q: Pass through. If the corporation is structured as an S corporation, profits and losses are…

A: Meaning of "Passed Through" Status : It is a concept in which the income or loss of an entity is…

Q: ected by some bilities

A: An S corporation shareholder’s basis may be affected by some or all business liabilities.

Q: From a tax perspective, and disregarding other issues such as limited liability, does it always make…

A: A sole proprietorship is a business owned and controlled only by one person. Because it is a…

Q: hich of this statement shows the advantage to form a corporation? Select one: a. Owner

A: Explanation : In simple words, when a business entity is considered as a corporation, the general…

Q: Which of the following is not considered to be an advantage of a corporation?a. Limited liability of…

A: Corporation:   Business concerns which have a separate legal entity; and are owned by shareholders,…

Q: Characteristics of a corporation include a.shareholders who are mutual agents b.direct management by…

A: Shareholders are considered as the owner of the corporation but their liability are limited to the…

Q: One of the following characteristics of a corporation is deemed a disadvantage. Which is it? a.…

A: Corporation is a finance by the shareholders and handled by the management and employees. We can…

Q: A business entity that has no ;ax liability because the entity's income is passed through to the…

A: A business entity is an independent organization established under the law to engage in commercial…

Q: Distinguish between corporations and sole proprietorshipsin terms of the following…

A: Sole proprietorships is the simplest form of business in which one particular operates the business…

Q: Which of the following is true of a "Subchapter S Corporation"? O The corporation is subject to…

A: Business organization is formed to carry out the commercial activities. Some examples of business…

Q: taxable entity. c.Ownership is divided into shares of stock. d.A corporation's resources are limited…

A: The term "corporation" refers to  legal entity . corporation is a separate legal entity from its…

Q: An individual provides accounting services to a corporation in exchange for stock. the shareholder…

A: Recognition of revenue - is an important aspect of accounting of revenue to be presented during the…

Q: Which of the following is not a characteristic of a corporation? a.Corporations experience an ease…

A: corporation : it is a legal entity it is considered as separate person  it has rights and…

Q: Which of the following is not true of a corporation? Oa. It may enter into binding legal contracts…

A: Corporation has separate legal entity. This means the corporation is separate from its owners. Thus,…

Q: The accumulated earnings tax, which is imposed on corporations for the accumulation of earnings in…

A: A corporation must show the IRS that it has a genuine business reason for keeping its revenues.…

Q: Which of the following characteristics of a corporation limits a stockholder's loss to the amount of…

A: The question is asking about the characteristic of a corporation that protects a stockholder from…

Q: to be a personal holding company, the corporation must have been formed or availed of for the…

A: A PHC is a type of corporation that derives its income primarily from passive sources such as…

Q: Which of the following would be co red an advantage corporation?

A: Corporation are those business that have separate individual identity from its owners. Corporation…

Q: Which of the following characteristics of a corporation limits a stockholder's loss to the amount of…

A: Shareholders Funds  After all obligations have been satisfied in the event of a company's…

Q: Which of the following is a characteristic of a corporation?a. No income taxb. Limited liability of…

A: Corporation: It can be defined as a legal organization or an entity that is completely different…

Q: Are the stockholders of a corporation are considered as residual claimant of the business…

A: A shareholder, often called a stockholder, is a person, organization, or institution that owns at…