Identify the Advantages of Forming a Business as an S

question 76

Multiple Choice

Identify the advantages of forming a business as an S Corporation.

• A)owner is personally responsible for debts of the business and earnings are reported directly on owner's personal tax return
• B)treated as a separate legal entity and owners avoid double taxation
• C)owners have limited liability and corporation's earnings are tax free
• D)owners avoid double taxation and owners have limited liability

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Definitions:

Piaget

Refers to Jean Piaget, a Swiss psychologist known for his work on cognitive development in children.

Detective Game

A game designed around solving mysteries or uncovering secrets, often involving clues, puzzles, and logical reasoning.

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The process of development in cognitive abilities, including thinking, reasoning, problem-solving, and learning.

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The developmental stage in which a child's body matures into an adult body capable of sexual reproduction.