Which One of the Following Statements Is Correct

question 125

Multiple Choice

Which one of the following statements is correct?

• A) Both partnerships and corporations incur double taxation.
• B) Both sole proprietorships and partnerships are taxed in a similar fashion.
• C) Partnerships are the most complicated type of business to form.
• D) Both partnerships and corporations have bylaws.
• E) All types of business formations have limited lives.

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Definitions:

Reason

The mental capacity of an individual to consciously make sense of things, establish and verify facts, and change or justify practices based on new or existing information.

Morality

Rules that differentiate between what is considered morally correct and incorrect conduct.

Psychological Egoism

The hypothesis positing that people are consistently driven by their own self-interest, even when their actions appear to be altruistic.

Ethical Egoism

A moral philosophy that posits individuals should act in ways that serve their own self-interest.