In What Form of Business Is It Most Difficult to Change

question 5

Multiple Choice

In what form of business is it most difficult to change your taxable year?

• A)sole proprietorship
• B)partnership
• C)corporation
• D)LLP

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Definitions:

Earned

Income, benefits, or rights obtained as a result of work or contribution.

Invoice

A document issued by a seller to a buyer, indicating the products, quantities, and agreed prices for products or services the seller has provided.

Credit Purchase

The acquisition of goods or services with an agreement to pay later, usually within an agreed period.

Recorded

The act of entering financial transactions into the accounting records of a business.