Indicate whether each of the following statements is true or false.
_____ a)Double taxation refers to the fact that both a partnership and its partners must pay income tax on the earnings of the partnership.
_____ b)A sole proprietorship is an accounting entity separate from its owner.
_____ c)Limited liability is a benefit to both corporations and partnerships,but not to sole proprietorships.
_____ d)Unlike a partnership,a corporation is not terminated when a major stockholder withdraws his or her investment.
_____ e)Sole proprietorships are,generally,subject to fewer governmental regulations than corporations.

Question

Quizplus · Accepted Answer

The Answer of Indicate whether each of the following statements is true or false.
_____ a)Double taxation refers to the fact that both a partnership and its partners must pay income tax on the earnings of the partnership.
_____ b)A sole proprietorship is an accounting entity separate from its owner.
_____ c)Limited liability is a benefit to both corporations and partnerships,but not to sole proprietorships.
_____ d)Unlike a partnership,a corporation is not terminated when a major stockholder withdraws his or her investment.
_____ e)Sole proprietorships are,generally,subject to fewer governmental regulations than corporations.

Indicate Whether Each of the Following Statements Is True or False