An organization that does not pay income tax on its profits but passes them through to its owners who pay the tax at their individual rates is called a
A) business corporation
B) flow-through tax entity.
C) tax-free business venture.
D) professional corporation.
B
You might also like to view...
What document communicates the conclusions of the financial statement audit?
a. The financial statement. b. Written management assertion. c. The audit report. d. None of the above.
The Work in Process Inventory account is found only in the ledgers of manufacturing companies.
Answer the following statement true (T) or false (F)
What are the duties of a trustee under Chapter 7?
a. To use, sell, or lease property of the estate and to deposit or invest money of the estate. b. To employ attorneys, accountants, appraisers, or auctioneers and assume or reject any executory contract or unexpired lease of the debtor. c. To rehabilitate the accounts of the debtor. d. (a) and (c), but not (b). e. (a) and (b), but not (c).
If you are seeking new-product ideas for your business, your ________ are a good source.
A. production people B. salespeople C. customers D. intermediaries E. All these answers are correct.