Intermediaries to Not Take Title to a Product but Are

question 343

Multiple Choice

Intermediaries to not take title to a product but are responsible for designing its promotional plans, setting prices, determining distribution policies, and making recommendations on product strategy are referred to as __________.

• A)brokers
• B)line brokers
• C)distribution brokers
• D)selling agents
• E)manufacturer's agents

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Definitions:

C Corporation

A type of business entity that is taxed separately from its owners, and can have an unlimited number of shareholders.

Subchapter S Status

A tax designation for small corporations that meet specific IRS requirements, allowing income to be taxed at the shareholder level rather than at the corporate level.

Subchapter S Corporation

A type of corporation created through an IRS tax election to pass corporate income, losses, deductions, and credits through to shareholders for federal tax purposes.

Schedule K-1

A tax document used to report the income, losses, and dividends of a partnership or S corporation's partners or shareholders.