Examlex
Based on a study about popularity and academic achievement (grade-point average, GPA) , which of the following statements is true?
Corporation
A corporation is a legal entity that is separate and distinct from its owners, which can enter into contracts, own assets, and is subject to taxation.
Subchapter S Corporation
A type of corporation designed for small businesses that allows income to be passed through to shareholders and taxed at individual rates, avoiding double taxation.
Net Income
The amount of revenue that remains after deducting all expenses, taxes, and costs from the total revenue of a business or individual.
Capital Gains
refer to the profit made from selling an asset for more than its purchase price.
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