For What Reason Might a Group of People Establishing a Business

question 36

Multiple Choice

For what reason might a group of people establishing a business prefer to set it up as a corporation rather than a partnership?

• A)to have limited liability.
• B)to avoid double taxation.
• C)because of ease of formation.
• D)to avoid complex reporting procedure for government agencies

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Definitions:

Gender and Ethnicity

Intersecting categories that influence individuals’ experiences, identities, and the discrimination they may face, highlighting the importance of considering both in understanding social dynamics.

Anonymity

The state of being anonymous, where an individual's identity is not known or disclosed.

Anti-Minority Feelings

Negative attitudes, biases, or prejudices directed against individuals or groups because of their minority status in society.

Express

To convey a thought or feeling through words, gestures, or actions effectively.