Adv Tax 2/3 Business Entities

Quiz
•
Business
•
University
•
Medium
Jenny McGarry
Used 3+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
No restriction on the number of shareholders.
Corporation
S Corporation
Partnership
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
At least two partners.
Corporation
S Corporation
Partnership
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
No more than 100 shareholders.
Corporation
S Corporation
Partnership
4.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Owner distributions are generally tax-free.
Corporation
S Corporation
Partnership
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A disadvantage is double taxation.
Corporation
S Corporation
Partnership
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Allocation of income or loss items is pro-rata.
Corporation
S Corporation
Partnership
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Flexibility is an advantage over the other entity types.
Corporation
S Corporation
Partnership
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