Which of the Following Statements Is CORRECT

question 33

Multiple Choice

Which of the following statements is CORRECT?

• A) One of the disadvantages of incorporating a business is that the owners then become subject to liabilities in the event the firm goes bankrupt.
• B) Sole proprietorships are subject to more regulations than corporations.
• C) In any type of partnership, every partner has the same rights, privileges, and liability exposure as every other partner.
• D) Sole proprietorships and partnerships generally have a tax advantage over many corporations, especially large ones.
• E) Corporations of all types are subject to the corporate income tax.

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Definitions:

KMS Cycle

Knowledge Management System Cycle, which refers to the process of creating, sharing, using, and managing the knowledge and information of an organization.

KMS Cycle

Knowledge Management System Cycle, which refers to the processes of creating, sharing, using, and managing the knowledge and information of an organization.

Process Diagram

A visual representation of the steps, sequences, and processes involved in the operation or flow of a specific system or procedure.

Relational Database

A database model engineered for storing and retrieving data elements that are interconnected.