Carl, Anne, and Al were friends in college. After graduation they decided to open a company
that sells computer printer ribbons and cartridges. They each have $20,000 to put into the
business, and want equal shares of the business.
They are not worried about liability because
they are not actually going to work on printers or going to work in their customer's place of
business. They also want to avoid double taxation. The most likely form of business organization
for them would be a
A) limited partnership.
B) partnership.
C) Subchapter S corporation.
D) corporation.
E) sole proprietorship.
C
You might also like to view...
Marcos Inc had net income for 2016 of $40,000 . It declared and paid a $3,500 cash dividend in 2016 . If the company's retained earnings for the end of the year were $38,200, what was the company's retained earnings balance at the beginning of 2016?
a. $81,700 b. $74,700 c. $5,300 d. $1,700
Which of the following statements is true concerning language in the workplace?
a. Employees are more productive if they all speak the same language. b. The use of more than one language in a workplace is preferred. c. Employees who are bilingual are always paid more. d. Language choice has implications for the way individuals are treated.
When using the periodic inventory system, the merchandise inventory account is debited for all purchases
Indicate whether the statement is true or false
The controlling account for the cost ledger is:
A) Finished Goods B) Materials C) Work in Process D) Cost of Goods Sold