Question
Chapter 1, Problem 1P
Summary Introduction

To Determine: The important difference between a corporation and an organization.

Introduction:

A corporation is an organization or a business framed by a group of individuals, and it has rights and liabilities isolated from those of the people included. It might be a philanthropic or a non-profit association occupied with activities for the public, private, municipal and city or town that has been sorted out to make a benefit.

Expert Solution & Answer
Check Mark

Explanation of Solution

The important differences between a corporation and an organization are as follows:

  • The significant difference among the sorts of corporate hierarchical structures is based on how they are taxed.
  • A corporation is a lawful entity isolated from its proprietors.
  • The investors of a company usually pay taxes twice.
  • This framework, in some cases is alluded to as double taxation.

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