-In the Table Above, What Is the Government's Sector Balance

question 409

Multiple Choice

-In the table above, what is the government's sector balance?

• A) $0
• B) a surplus of $600 billion
• C) a deficit of $700 billion
• D) a deficit of $100 billion

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Definitions:

S Corporation

A type of corporation in the United States that is taxed under Subchapter S of the Internal Revenue Code, with profits passing through to shareholders to be taxed at individual income tax rates.

Sole Proprietorship

A business owned and operated by a single individual, with no separation between the business and the owner, legally or financially.

Partnership

A partnership is a legal business structure where two or more individuals share ownership, responsibilities, and profits or losses of the business.

Corporation

A legal entity that is separate and distinct from its owners, with rights to enter into contracts, loan and borrow money, sue and be sued.