A Subchapter S Corporation

question 91

Multiple Choice

A Subchapter S corporation

• A) is similar to a partnership in that it carries unlimited liability.
• B) is a separate legal entity which is treated like a normal corporation.
• C) has all the organizational benefits of a corporation and its income is only taxed once.
• D) all of these.

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Definitions:

Process Excellence

A philosophy or approach that emphasizes the need for continuous improvement and effectiveness in business processes.

Essential Elements

Fundamental components or aspects that are crucial for the completion or success of a process, project, or system.

Enterprise Resource Planning

Integrated management software systems that are used to collect, store, manage, and interpret data from various business activities, facilitating information sharing across the organization.

SCM

Supply Chain Management, the oversight of materials, information, and finances as they move from supplier to manufacturer to wholesaler to retailer to consumer.