Answered: taxable entity. c.Ownership is divided…

taxable entity. c.Ownership is divided into shares of stock. d.A corporation's resources are limited to its individual ow

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter11: The Corporate Income Tax

Section: Chapter Questions

Problem 17MCQ

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Question

Which of the following is not a characteristic of a corporation?

a.Corporations experience an ease in obtaining large amounts of resources by issuing stock.

b.Corporations are organized as a separate legal taxable entity.

c.Ownership is divided into shares of stock.

d.A corporation's resources are limited to its individual owners' resources.

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