Which Type of Ownership Is Not Subject to Federal Taxation

question 58

Multiple Choice

Which type of ownership is not subject to federal taxation?

• A)Sole Proprietorship
• B)Corporations
• C)Partnership
• D)Limited Liability Corporation

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Definitions:

Utility

In economics, a measure of satisfaction or happiness that a consumer derives from the consumption of goods and services.

Satisfaction

The fulfillment of one's needs or the pleasure derived from consuming goods or services.

Consuming It

Pertains to the act of using up resources or products to satisfy needs or desires.

Ability

The possession of the means or skill to do something.