All of the Following Statements Are True Except

question 42

Multiple Choice

All of the following statements are true except

• A)the net income earned by a sole proprietorship is reported on the owner's individual income tax return.
• B)the net income of an S corporation is subject to double taxation because it is taxed at the entity level and dividends paid from the S corporation to individual shareholders are also taxed.
• C)the net income of C corporation is subject to double taxation because it is taxed at the entity level and dividends paid from the C corporation to individual shareholders is also taxed.
• D)LLCs are generally taxed as partnerships.

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Definitions:

Natural Science

The branch of science concerned with the description, prediction, and understanding of natural phenomena, based on empirical evidence from observation and experimentation.

Human Society

A structured community of people bound together by cultural similarities, social relations, or other shared attributes.

Scientific Thinking

A cognitive approach that employs skepticism, objectivity, and evidence-based analysis in understanding natural phenomena.

Empirical Demonstration

The use of observed or measured data to provide evidence for a theory or hypothesis.