An Important Factor to Consider When Determining How to Organize

question 23

Multiple Choice

An important factor to consider when determining how to organize a business is that:

• A)members of an LLC have unlimited liability and are taxed like members of a partnership.
• B)for accounting purposes,a proprietorship is a distinct entity,separate from the proprietor.
• C)partnerships are subject to double taxation.
• D)a corporation is not legally distinct from its owners.

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Definitions:

Average hourly income

The mean amount of money earned by an individual or group per hour of work.

Standard deviation

A measure of the dispersion or variability of a set of numerical data, indicating how much the individual data points deviate from the mean (average) of the data set.

Degrees of freedom

The count of independent variables or measurements that can change in an examination while still adhering to all limitations.

Confidence interval

A ladder of figures, gathered from statistical study of a sample, with a probability of including the undetected value of a population parameter.