Answer ( d) All options are correct
Because C corporation, under United States federal income tax law, refers to any corporation that is taxed separately from its owners. A C corporation is distinguished from an S corporation, which generally is not taxed separately. Most major companies (and many smaller companies) are treated as C corporations for U.S. federal income tax purposes. C corporations and S corporations both enjoy limited liability, but only C corporations are subject to corporate income taxation.
TB MC Qu. 04-46 Generally, which of the following... Generally, which of the following flow-through entities...
which of the following entities is not considered a foow-through entity? a. limited partnership b. s corporation c. limited liability company (llc) d. general partnership e. none of the choices are correct. all are treated as a flow-through entities
Which of the following entities is not considered a flow-through entity? Group of answer choices C corporation. S corporation. Limited liability company (LLC). Partnership.
TB MC Qu. 06-82 Which of the following is not a primary role... Which of the following is not a primary role of an Independent auditor? Multiple Choice Determine whether a company's financial statements are materially correct. o Assume legal and professional responsibilities to the public. o All of these answer choices are correct. Advise client on tax strategles.
TB MC Qu. O4-41 Which of the following entity... Which of the following entity characteristics are generally key drivers for small business owners in deciding which entity to choose? Multiple Choice Rate at which income from entity will be taxed. Required accounting period. Liability protection. Rate at which income from entity will be taxed and required accounting period. Rate at which income from entity will be taxed and liability protection.
TB MC Qu. 04-38 What type of account is the... Nhat type of account is the Cost of Goods Sold account? Multiple Choice Contra asset Asset Liability Expense "BMC Qu. 04-51 Anchor Company sold merchandise with a cost... Anchor Company sold merchandise with a cost of $560 to a customer for $890 on account. Due to an error, this sale was never recorded in the accounting records. What effect will the failure to make the necessary entries have on the...
TB MC Qu. 04-80 A company has sales of... A company has sales of $405,600 and its gross profit is $171,100. Its cost of goods sold equals: Multiple Choice $(232,700). $405,600 $171,100. $234,500 $576,700 < Prey 9 of 12 Next >
TB MC Qu. 04-96 A company's gross profit... A company's gross profit (or gross margin) was $126,910 and its net sales were $494,200. Its gross margin ratio is: Multiple Choice 1:13 74.3% 8.9% $126.910 25.7% $367.290 < Prev 4 of 12 Next >
Saved TB MC Qu. 04-80 Overhead costs: Overhead costs: Multiple Choice Ο Are directly related to production. Ο Can be traced to units of product in the same way that direct materials can Ο Cannot be traced to units of product in the same way that direct labor can. Ο Are period costs. Ο Include only fixed costs. Next
TB MC Qu. 04-66 Jorge is a 60-percent owner of JJ LLC... Jorge is a 60-percent owner of JJ LLC (taxed as a partnership). He is a passive investor in JJ (he doesn't perform any work for JJ) and his marginal ordinary tax rate is 37 percent. Which of the following statements is true regarding Jorge's tax treatment of business income allocated to him from JJ? Multiple Choice Business income allocations are not subject to self- employment tax. Business income...
WHICH OF THE FOLLOWING ENTITIES IS REQUIRED TO FILE AN ELECTION TO TAKE ADVANTAGE OF PASS THROUGH TAX TREATMENT LIMITED LIABILITY COMPANY LIMITED LIABILITY LIMITED PARTNERSHIP LIMITED PARTNERSHIP S CORPORATION