Which of the Following Is an Advantage of Starting a New

question 150

Multiple Choice

Which of the following is an advantage of starting a new business as a corporation?

• A)double taxation
• B)ease in setting up
• C)low expenses of legally organizing
• D)greater ability to raise funds

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Definitions:

Corporation

A legal entity that is separate and distinct from its owners, capable of conducting business, owning assets, and being liable for debts.

Paralegals

Individuals trained in subsidiary legal matters but not fully qualified as lawyers, who perform tasks requiring knowledge of the law and legal procedures under the supervision of a lawyer.

Banned

Prohibited by law or regulation from use, distribution, or production.

Business Entities

Structures established by one or more individuals to conduct business or engage in activities for profit, including corporations, partnerships, and sole proprietorships.