Identify Which of the Following Statements Is True

question 18

Multiple Choice

Identify which of the following statements is true.

• A)Regular corporation and C corporation are synonymous terms.
• B)Regular corporation and S corporation are synonymous terms.
• C)A partner is generally considered to be an employee of the partnership.
• D)All of the above are false.

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Definitions:

Bill of Rights

The first ten amendments to the United States Constitution, guaranteeing such rights as the freedoms of speech, assembly, and worship.

Articles of Confederation

The original constitution of the United States, ratified in 1781, which was replaced by the U.S. Constitution in 1789 due to its inadequacies.

Magna Carta

A document signed in 1215 that established the principle that everyone is subject to the law, even the king, and guaranteed the rights of individuals.

Thomas Jefferson

The third President of the United States (1801–1809), a Founding Father, and the principal author of the Declaration of Independence.