Cheers Inc

question 23

Multiple Choice

Cheers Inc.operates as a partnership.Now the partners have decided to convert the business into a regular corporation.Which of the following statements is CORRECT?

• A) Assuming Cheers is profitable, less of its income will be subject to federal income taxes.
• B) Cheers will now be subject to fewer regulations.
• C) Cheers' shareholders (the ex-partners)will now be exposed to less liability.
• D) Cheers' investors will be exposed to less liability, but they will find it more difficult to transfer their ownership.
• E) Cheers will find it more difficult to raise additional capital.

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