Which of the following legal entities are generally classified as C corporations for tax purposes?Multiple Choice Limited liability companies. S corporations. Limited partnerships. Sole proprietorships. None of the choices is correct.

C corporation for tax purposes means Double taxation in which shareholders are taxed seperately from…

Answered: S corporations.

Business

Accounting

S corporations.

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

Which of the following legal entities are generally classified as C corporations for tax purposes?

Multiple Choice

Limited liability companies.
S corporations.
Limited partnerships.
Sole proprietorships.
None of the choices is correct.

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