Identify which of the following statements is true.

Question

Quizplus · Accepted Answer

Regular corporation and C corporation are synonymous terms as "C corporation" refers to a corporation that is taxed under subchapter C of the Internal Revenue Code. A) is false as Regular corporation and S corporation are not synonymous terms, S corporation refers to a corporation that has elected to be taxed under subchapter S of the Internal Revenue Code. B) is false as a partner is not considered to be an employee of the partnership, but rather an owner of the business.

Identify Which of the Following Statements Is True