A(n)________ Is a Close Corporation Whose Shareholders Have Elected to Be

question 74

Multiple Choice

A(n) ________ is a close corporation whose shareholders have elected to be taxed essentially like partners are taxed under federal income tax law.

• A)sole proprietorship
• B)LLLP
• C)LLC
• D)S Corporation

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Definitions:

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.

Human Capital

Human capital represents the knowledge, skills, competencies, and attributes embodied in individuals that facilitate the creation of personal, social, and economic well-being.

Triple Bottom Line

An accounting framework that incorporates three dimensions of performance: social, environmental, and financial.

Economic

Pertaining to the production, distribution, and consumption of goods and services, as well as the management of money and resources in a region or country.