Advantages of Hiring One's Own Children to Work in Her/his

question 24

Multiple Choice

Advantages of hiring one's own children to work in her/his business enterprise include which of the following?
I.The corporation can deduct wages paid to the children for work performed.
II.The corporation is required to pay Social Security taxes on the children's earnings.
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• A)Only statement I is correct.
• B)Only statement II is correct.
• C)Both statements are correct.
• D)Neither statement is correct.

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Definitions:

Online Brokerage Firms

Companies that provide a platform for buying and selling securities over the Internet without providing investment advice.

Marginal Revenue

The additional income earned from selling one more unit of a good or service.

Non-OPEC Oil

Oil produced by countries that are not members of the Organization of the Petroleum Exporting Countries (OPEC), influencing global oil supply and prices.

World Market

The global exchange of goods, services, and finances, encompassing international trade and investment flows.