Which of the following is true of a close corporation?
A) Its profits cannot be reported by stock holders as income in their personal income tax returns.
B) It is also known as a closely held corporation.
C) It enables a large number of people to own stock.
D) Its profits are usually taxed twice.
Correct Answer:
Verified
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Q10: After it is incorporated, a corporation cannot
Q12: A stock corporation is an example of
Q13: The people who form a corporation are
Q13: The power to make bylaws and regulations
Q14: If incorporated in another country, a corporation
Q16: A(n) _ corporation is one that is
Q18: A corporation that is incorporated in another
Q19: Which of the following best describes bylaws?
A)
Q20: A not-for-profit corporation is one formed by
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