Which of the Following, If Any, Incorrectly Characterize the Check-The-Box

question 103

Multiple Choice

Which of the following, if any, incorrectly characterize the check-the-box Regulations?

• A)A one-owner business is a sole proprietorship if default (no election is made) occurs.
• B)A one-owner business can elect to be taxed as a corporation.
• C)If default (no election is made) occurs, a limited liability company is taxed as a partnership.
• D)The check-the-box Regulations can apply to entities that are already incorporated under state law.
• E)None of the above.

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Definitions:

Condorcet Paradox

A situation in social choice theory where collective preferences can be cyclical, even if the preferences of individual voters are not.

Satisficing

A decision-making process that entails searching through the available alternatives until an acceptability threshold is met rather than looking for the best possible solution.

Arrow's Impossibility Theorem

A mathematical theorem demonstrating the impossibility of devising a voting system that simultaneously meets certain fairness criteria.

Rational Maximers

Individuals or entities that aim to achieve the highest possible benefit or utility from their actions, assuming rational decision-making processes.