Which of the following is an advantage of ownership of a corporation over that of a sole proprietorship? I. The owners of the corporation have unlimited liability for the firm's debts II.It is the simplest to start III. The corporation has an unlimited life. IV. Dividends recieved by the corporation's shareholders are tax-exempt a. I only b. II only c. III only d. II and III only e. II and IV only

Income Tax Fundamentals 2020
38th Edition
ISBN:9780357391129
Author:WHITTENBURG
Publisher:WHITTENBURG
Chapter11: The Corporate Income Tax
Section: Chapter Questions
Problem 12MCQ
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Which of the following is an advantage of ownership of a corporation over that of a sole proprietorship?
I. The owners of the corporation have unlimited liability for the firm's debts
II.It is the simplest to start
III. The corporation has an unlimited life.
IV. Dividends recieved by the corporation's shareholders are tax-exempt
a. I only
b. II only
c. III only
d. II and III only
e. II and IV only
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