Which of the Following Forms of Business Faces Double Taxation

question 82

Multiple Choice

Which of the following forms of business faces double taxation?

• A) S Corporation
• B) Professional corporation
• C) Corporation
• D) Limited liability companies

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Definitions:

Paid to You

This term generally refers to any payment made directly to an individual, often in the context of salaries, dividends, or other forms of income.

Revenue Accounts

Accounts that track money earned from a company's operations and activities, usually from the sale of goods and services.

Credits

Accounting entries that increase liabilities or decrease assets, representing the opposite of debits.

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account, on a company's balance sheet.