B&G, Inc. ? A year ago, Carl went to work for B&G, Inc. He has worked for the finance department ever since he started. He noticed that the corporation was only taxed as though it were a partnership. This was something that he found very odd when he first started working for the company, but he later realized it was a fairly common practice. He recognized that this was one of the advantages of this type of corporation. ? While the job was challenging, Carl was not happy. He wanted to work for a company whose main goal was to provide service to the community, not to make a profit. However, Carl felt that, considering his present financial situation, he had to continue working for B&G, Inc. A week later, Carl discovered there was going to be a merger between B&G, Inc. and one of its
major competitors. Carl's boss informed him that he would be getting a promotion and a raise. While he was excited about making more money, he still was not happy. He knew then that he would not be working for the company for long. Refer to B&G, Inc. Which of these features does not belong to this type of corporation?
A. No double taxation
B. Management flexibility
C. Limited liability
D. Personal asset protection
E. Many Internal Revenue Service tax regulations
Answer: B
You might also like to view...
What are the characteristics of a transformational leader? How do they transform their followers? Select someone that you believe to be a transformational leader, and illustrate your points.
What will be an ideal response?
The ability of a business to meet its current obligations may be determined by the
a. current ratio; b. return on equity; c. inventory turnover; d. average inventory; e. average accounts receivable
Identify and describe the three parts of the motivation process.
What will be an ideal response?
Expenditures that increase operating efficiency or capacity for the remaining useful life of a fixed asset are betterments
Indicate whether the statement is true or false