An S Corporation

question 42

Multiple Choice

An S corporation

• A) is similar to a partnership in that it carries unlimited liability.
• B) is a separate legal entity that is treated like a normal corporation.
• C) has all the organizational benefits of a corporation and its income is only taxed once.
• D) All of the options

---

Definitions:

Social Mobility

The movement of individuals, families, or groups through a system of social hierarchy or stratification.

Self-Employed

refers to an individual who works for themselves, either by running their own business or offering their services as a freelancer or contractor.

Personal Satisfaction

The sense of contentment or fulfillment a person feels from achieving or accomplishing something.

Remuneration

Compensation or payment given for services or work done, often in the context of employment or professional services.