When people use the term "corporation" without specifying which type, they are generally referring to a(n) _____.
A) statutory close corporation
B) nonprofit corporation
C) S corporation
D) C corporation

Question

Quizplus · Accepted Answer

When people refer to a "corporation" without specifying, they typically mean a C corporation, which is the standard corporation type that is subject to corporate income tax.

When People Use the Term "Corporation" Without Specifying Which Type