Which of the Following Entity Characteristics Are Generally Key Factors

question 63

Multiple Choice

Which of the following entity characteristics are generally key factors for small business owners in deciding which entity to choose?

• A)Rate at which income from entity will be taxed.
• B)Required accounting period.
• C)Liability protection.
• D)Both the rate at which income from entity will be taxed and the required accounting period.
• E)Both the rate at which income from entity will be taxed and liability protection.

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Definitions:

Cognitive Impairments

A reduction in an individual's ability to think, concentrate, formulate ideas, reason, and remember compared to previous levels of functioning.

Heavy Drinker

An individual who consumes alcohol in excess, often to the point where it interferes with their health, social, or occupational life.

Prematurely

Occurring or done before the usual or proper time; too early.

Developmental Psychologist

A professional who studies the psychological growth of individuals, including cognitive, emotional, and social development, throughout different stages of life.