Candace is considering incorporating her photography business and knows that there are many drawbacks, except ________. Question 3 options: A) high costs of incorporation B) double taxation C) complex legal requirements D) unlimited liability E) heavy regulation

The business incorporation of the photography business represents the sole proprietorship that…

Answered: Candace is considering incorporating…

Business

Accounting

Candace is considering incorporating her photography business and knows that there are many drawbacks, except

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Candace is considering incorporating her photography business and knows that there are many drawbacks, except ________.

Question 3 options:

A)	high costs of incorporation

B)	double taxation

C)	complex legal requirements

D)	unlimited liability

E)	heavy regulation

Rules by which an authority (usually a government) imposes a financial obligation on individuals or organizations within its domain. Property or transactions can be taxed. While taxes are primarily intended to fund the operation of a government, many tax laws are created to encourage or discourage certain behaviors by citizens or companies.

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