Which of the Following Business Organizational Forms Provides the Owners

question 27

Multiple Choice

Which of the following business organizational forms provides the owners with limited investor liability and passes its income before taxes through to the owners?

• A)partnerships and S corporations
• B)S corporations and C corporations
• C)C corporations and limited liability companies (LLCs)
• D)S corporations and limited liability companies (LLCs)

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Definitions:

Contemplation of Death

A legal principle referring to actions or decisions made by an individual who expects to die soon, especially in creating or amending a will.

Uniform Transfers

Legal mechanisms designed to standardize the transfer of various types of assets or rights across different jurisdictions.

Custodian

A custodian is a person or organization that has responsibility for or takes care of something, such as managing and safeguarding assets.

Minor

A person under the age of legal adulthood, often defined as 18 years, but the age can vary depending on the jurisdiction.