Which of the Following Statements Is CORRECT

question 27

Multiple Choice

Which of the following statements is CORRECT?

• A) One of the disadvantages of incorporating your business is that you could become subject to the firm's liabilities in the event of bankruptcy.
• B) Proprietorships are subject to more regulations than corporations.
• C) In any partnership,every partner has the same rights,privileges,and liability exposure as every other partner.
• D) Corporations of all types are subject to the corporate income tax.
• E) Proprietorships and partnerships generally have a tax advantage over corporations.

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Definitions:

Divorce Rates

The statistical measure of the number of divorces that occur within a population during a specified period.

Decreasing

Refers to the process of becoming less in size, amount, number, or degree.

United States

A country in North America, comprising 50 states, a federal district, and several territories, noted for its diverse geography and culture.

Cohabiting Households

Living arrangements where two or more people live together in a domestic partnership without being legally married.