Which of the following phrases is not descriptive of the corporate form of business?
A) Professional management
B) Continuous existence
C) Limited liability
D) Single taxation

Question

Quizplus · Accepted Answer

The corporate form of business is subject to double taxation, not single taxation. This means that both the corporation and the shareholders are taxed on any profits earned by the corporation. A, B, and C are all descriptive of the corporate form of business.

Which of the Following Phrases Is Not Descriptive of the Corporate