In which type of business organization are income taxes always required to be paid by the entity

Fantastic news! We've Found the answer you've been seeking!

Question:

In which type of business organization are income taxes always required to be paid by the entity on profits earned as well as by the owners upon distribution thereof?

a. general partnership

b. limited liability company

c. Subchapter S corporation

d. Subchapter C corporation

Related Book For answer-question

Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

See More Books

Posted Date: Oct 10, 2022 08:00 AM

See More Questions

Fill in the missing values (A through D) for a loan of $10,000 if the interest rate is compounded at 10% per year. End of Interest Amount Owed End of Year Amount Owed Year for Year After Interest...
Which payroll tax is required to be paid by both employers and employees?
In which type of business entity do all owners have limited liability?
Nancy has active modified adjusted gross income before passive losses of $75,000. She has a loss of $5,000 on a rental property she actively manages. How much of the loss is she allowed to take...
At what periodic interest rate is a $5,000 cash disbursement occurring today equivalent to a cash receipt of $7,605.30 occurring five years from now? The periodic interest rate is compounded annually.
SnapOn makes snap-together button fasteners (a male top and female bottom) for designer clothes. Each top and bottom consists of several metal parts that, when attached to the garment, allow the...
Do the needs for and uses of internal and consolidated ecological accounting differ? If so, how? Are the two related?
Pimental Manufacturing Inc. is the producer of specialty machinery for numerous customers. It had $10,000,000 of sales in 2016 and identified the following costs as being related to quality: Scrap...
Refer to the data sheet for Australia 2022. The growth rate for Australia slowed over the 4 quarters of2022 (taken as a whole). Was the change in the unemployment rate and the inflation rate (using...
Punk Corporation purchased 90 percent of Soul Companys voting common shares on January 1, 20X2, at underlying book value. At that date, the fair value of the noncontrolling interest was equal to 10...
Answer the following questions: a. Prepare a crosstabulation of the data on Cylinders (rows) and City MPG (columns). Use classes of 5-9, 10-14, 15-19, , 35-39 for City MPG. [Hint: While grouping, use...
How would you record a hologram if you want to read it out via reflection? Draw diagrams illustrating this, similar to Figs. 10.6 and 10.8. Figure 10.6 Figure 10.8. illuminating monochromatic light...
What country do you come from?
For the system methane(1)/ethane(2)/propane(3) as a gas, estimate (a) Through application of Eq. (10.64). (b) Assuming that the mixture is an ideal solution. (a) Eq. (10.64) where the dummy indices i...
DFB, Inc., expects earnings at the end of this year of $4.01 per share, and it plans to pay a $2.09 dividend at that time. DFB will retain $1.92 per share of its earnings to reinvest in new projects...
Suppose you have $100,000 in cash, and you decide to borrow another $25,000 at a 6% interest rate to invest in the stock market. You invest the entire $125,000 in a portfolio J with a 24% expected...
Create a procedure find_customer (customer_id IN NUMBER, found OUT NUMBER); This procedure has an input parameter to receive the customer ID and an output parameter named found. This procedure looks...
Banner Company acquires an 80% interest in Roller Company for $640,000 cash on January 1, 2013. The NCI has a fair value of $160,000. Any excess of cost over book value is attributed to goodwill. To...
St. Mary Mills, Inc. (SMM) uses high-quality looms to manufacture its textile products. SMM has decided to replace one of its looms and has researched the following cost data on replacement looms....
Three college seniors with majors in accounting are discussing alternative career plans. All three want to enter careers that will help to ensure the integrity of financial reporting. The first wants...
Reann Baird owns a small retail shop. Historically, her annual sales have been about $250,000, with 60% of that coming in the November and December holiday season. This year, on a buying trip to...
If you could interview any historical figure who contributed to the development of the U.S. nonprofit sector, who would you choose, and why? What three questions would you most like to ask this...
Stephen Wernet has claimed that resources are the crucial link between operation and survival and that organizations change only when they experience a significant shift in resources. Do you agree or...
Of the different theoretical approaches to leadership, which one did the YSN board tend to rely on most in selecting an executive director for the agency? What are the likely consequences of...

In which type of business organization are income taxes always required to be paid by the entity

Question:

Expert Answer:

business organization an entity created with the intention of conducting business A system of law go... View the full answer

Accounting concepts and applications

Students also viewed these accounting questions