Which of the Following Statements Regarding Alternative Business Forms Is

question 53

Multiple Choice

Which of the following statements regarding alternative business forms is true?

• A) If an S corporation's election terminates, the corporation is forced to liquidate.
• B) Some states treat S corporations as taxable corporations for purposes of corporate franchise taxes.
• C) Generally, the transfer of property to a new partnership in exchange for a partnership interest is a taxable event.
• D) The owners of a new business should be indifferent between operating as an S corporation and a partnership.

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Definitions:

Long-range Plans

Long-range plans are strategic frameworks that outline an organization's goals and objectives over an extended period, often spanning several years into the future.

Committee

A group of individuals designated to perform a specific task or to deliberate on a particular issue within an organization.

Organizational Structure

Describes the way in which a company or organization is arranged, including the roles, responsibilities, and communication methods between members.

Entire Group

The whole set or total number of individuals within a defined category or team, without exclusion.