Based on IRS Statistics, the Most Common Type of Business

question 3

Multiple Choice

Based on IRS statistics, the most common type of business in the U.S. is

• A) Proprietorship
• B) Partnership
• C) Regular C corporation
• D) Subchapter S corporation

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Definitions:

DVDs

Digital Versatile Discs, a type of optical storage media used for video, audio, and data storage, now surpassed by digital streaming and download technologies.

CDs

Compact Discs, a digital optical disc data storage format used for storing audio, video, and data.

Budget Constraint

The limitation on the consumption bundles that a consumer can afford given their income and the prices of goods.

Income

Income earned regularly from work or investments.