Which of the following is the most common type of corporate structure that is used by accounting firms that operate in the U.S.?
A)as a limited liability partnership
B)as a corporation
C)as a cooperative
D)as sole traders

Question

Quizplus · Accepted Answer

Limited liability partnerships (LLPs) are the most common type of corporate structure used by accounting firms in the U.S. This structure allows the partners to limit their personal liability while maintaining flexibility in management and taxation. Corporations may also be used, but are less common due to the additional regulatory requirements and tax implications. Cooperatives and sole traders are not commonly used by accounting firms.

Which of the Following Is the Most Common Type of Corporate