All of the Following Statements Are True Except

question 1784

Multiple Choice

All of the following statements are true except

• A) the net income of C corporation is subject to double taxation because it is taxed at the entity level and dividends paid from the C corporation to individual shareholders is also taxed.
• B) the net income earned by a sole proprietorship is reported on the owner's individual income tax return.
• C) LLCs are generally taxed as partnerships.
• D) the net income of an S corporation is subject to double taxation because it is taxed at the entity level and dividends paid from the S corporation to individual shareholders are also taxed.

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Definitions:

Social Inequality

The unequal distribution of resources, opportunities, and rights among different social positions or statuses within a society.

IQ Scores

Quantitative measurements used to assess a person's intelligence level relative to the general population, typically determined through standardized testing.

Meritocratic

Pertaining to or supporting the principle of meritocracy, where individuals' social status and mobility are based on their abilities and achievements rather than inherited privilege.

Social Stratification

The hierarchical arrangement of individuals or groups in a society based on wealth, power, prestige, or other criteria.