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Which type of business organization is subject to income tax

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Reference no: EM132908784

Problem 1: This type of business organization is subject to income tax.

A) sole proprietorship.

B) partnership.

C) corporation.

D) All of the above.

Problem 2: The advantages of a corporation do NOT include

A) limited personal risk.

B) can continue indefinitely.

C) business decisions made by career administrators.

D) easy to set up.

Problem 3: Which of the following is a characteristic of a sole proprietorship?

A) Business owned by more than one person

B) Easy to form

C) Each shareholder acts as an owner of the company

D) Can continue indefinitely

Reference no: EM132908784

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