A Rectangle with a Triangle Within It Is a Symbol

question 16

Multiple Choice

A rectangle with a triangle within it is a symbol used to represent what organizational form?

• A)Partnership
• B)Corporation
• C)Hybrid entity treated as a branch for U.S. tax purposes
• D)Hybrid entity treated as a partnership for U.S. tax purposes

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Definitions:

Unlimited Liability

A legal structure in which owners are personally and fully responsible for all debts and liabilities incurred by the business.

Personal Assets

Assets owned by an individual as opposed to those owned by businesses or governments, including tangible and intangible items.

Original Capital Investment

The initial sum of money used to start a business or investment, often used for assets, inventory, and other startup costs.

Net Income

The total profit or loss of a company after all revenues and expenses have been accounted for, often referred to as the bottom line.