William Smith is a sole proprietor of a successful business. He is interested in incorporating to protect his personal assets. What are some disadvantages of organizing as a corporate entity?
What will be an ideal response
Some disadvantages of organizing as a corporation are that
†¢ ownership and management are often separated.
†¢ earnings of the corporation are subject to double taxation.
†¢ government regulation is expensive.
†¢ start-up costs are higher than other business forms.
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Indicate whether the statement is true or false
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