Identify which of the following statements is true.
A)Regular corporation and C corporation are synonymous terms.
B)Regular corporation and S corporation are synonymous terms.
C)A partner is generally considered to be an employee of the partnership.
D)All of the above are false.

Question

Quizplus · Accepted Answer

Regular corporation and C corporation are synonymous terms, both referring to a corporation that is taxed separately from its owners under subchapter C of the Internal Revenue Code.

Identify Which of the Following Statements Is True