Which of the Following Is NOT an Appropriate Legal Structure

question 8

Multiple Choice

Which of the following is NOT an appropriate legal structure for an entrepreneurial company?

• A) Proprietorship
• B) Corporation
• C) Partnership
• D) Trade alliance
• E) All of these are appropriate legal structures for an entrepreneurial company.

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Definitions:

Internal Revenue Code

The collection of laws governing federal taxation in the United States, defining tax rates, deductions, credits, and procedures.

Legislative Regulations

Laws and rules enacted by a legislative body to govern behavior and procedures.

Temporary Regulations

Regulations issued by the IRS or other government agencies that are intended to be in effect for a limited period of time, often used to clarify or interpret tax laws.

Tax Liability

The total amount of tax owed to a tax authority by an individual or corporation after all deductions, credits, and exemptions.