Ray Is Starting a New Business with a Friend and Trying

question 9

Multiple Choice

Ray is starting a new business with a friend and trying to decide between a C corporation,S corporation,and partnership.Which of the following statements regarding his decision is correct?

• A)An S corporation owner must pay income taxes only on the salary received.
• B)A partner in a partnership is taxed on his or her share of partnership income.
• C)A shareholder in a C corporation is taxed on his or her share of corporate income.
• D)S corporations pay taxes on their current year income.

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Definitions:

Probability Sample

A sample in which each member of the population has a known, non-zero chance of being selected.

Gatekeeper

is an individual or group that controls access to something, such as information or resources, often acting as a filter or decision-maker.

Youth Gang

A group of young individuals, often involved in delinquent behavior and existing outside of adult society's norms and laws.

Key Informant

An individual who possesses specialized knowledge, insights, or access to information in a particular area or community.