From the 2017 Tax Cuts and Job Act, a Reason

question 62

Multiple Choice

From the 2017 Tax Cuts and Job Act, a reason to choose sole proprietorship, partnership or corporation as a form of organization is:

• A) the number of people in the organization.
• B) the liability of the owner.
• C) the complexity involved with state and federal regulations and taxation.
• D) all of the above.

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Definitions:

Matching Principle

An accounting principle that dictates expenses should be matched with the revenues they help to generate within the same period.

Generating Revenue

The process by which a company earns income through its business activities, such as selling goods or services.

Ship Building

The construction and design of ships and other floating vessels, a specialized industry that requires engineering and manufacturing skills.

Multiple-Stage Processes

Processes in manufacturing or production that involve several distinct stages, each contributing to the completion of the final product.