1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Crank
2 years ago
8

Which of the following is TRUE of a partnership and a​ corporation? A. In a​ partnership, income is taxed once at the individual

​ level; whereas, in a​ corporation, income is taxed twice. B. In a​ corporation, income is taxed at the corporate​ level; whereas, in a​ partnership, income is taxed twice. C. Income from both forms of organizations are doubledashtaxed. D. In a​ partnership, income is exempted from tax up to​ $10 million;​ whereas, in a​ corporation, income is taxed twice.
Business
1 answer:
bixtya [17]2 years ago
4 0

Answer: A. In a​ partnership, income is taxed once at the individual​ level; whereas, in a​ corporation, income is taxed twice.

Explanation: Hi, a corporation is considered a legal entity for tax purposes, so it pays taxes based on the corporate tax rate for their income. But also the shareholders pay taxes based on the individual tax rate for the dividends payments received.  There is a double taxation .

A partnership is a collection of individuals that come together, the partners are personally liable for the business’s obligations. So, each partner pays taxes based on the individual tax rate for the incomes.

You might be interested in
Beginning inventory, purchases and sales data for tennis rackets are as follows:
IRISSAK [1]

Answer:

Cost of goods sold = $836

Ending inventory = $315

Explanation:

a) Data and Calculations:

Date     Description    Units  Unit Price  Balance

Apr. 1    Inventory         12         $45       $540

Apr. 11  Purchase          13         $47       $1,151 ($540 + 13 * $47)

Apr. 14 Sale                 (18)      $100        $315 ($7 * $45)

Sales revenue = $1,800 ($100 * 18)

Cost of goods sold = $836 ($47 * 13 + $45 * 5)

Ending inventory = $315  ($7 * $45)

b) Under the LIFO (Last in, First out) inventory valuation method, it is assumed that goods that were purchased closest to the selling date were the ones to be sold while those purchased earlier remain in inventory.

4 0
2 years ago
Suzanna decided not to pay federal income tax, saying that paying federal income tax is optional. Describe two possible conseque
Romashka [77]

Answer:

Not filing your return will cost you an additional 5 percent of your unpaid tax bill each month.

Not paying what you owe will add an extra 0.5 percent each month to your overall IRS debt.

If you did not file on time and did not pay any tax you owed, you are subject to both penalties. However, the IRS actually gives you a bit of a break. The maximum penalty that you’ll pay for both in any given month is 5 percent, rather than 5.5 percent.

If you don’t file or pay for five months, the failure-to-file penalty will max out at 25 percent of your unpaid taxes. But the 0.5 percent failure-to-pay penalty will continue to accrue, up to another 25 percent of what you owe, until the tax is paid.

Interest also is charged on the overdue amount

If your due a refund then the only way to get it is to file

Explanation:

7 0
2 years ago
Read 2 more answers
At what age does the "settling" process begin with regard to height?
GarryVolchara [31]
Had to look for the options and here is my answer. The age when the "Settling" process starts in relation to height is 55 YEARS OLD. This is the stage of a person when one reaches middle adulthood. The settling process refers to that event when the the bones that are connected to the spinal column reduces its density.
7 0
3 years ago
Purple Lemon Fruit Company has two divisions: one is very risky, and the other exhibits significantly less risk. The company use
lorasvet [3.4K]

Answer: b. Riskier over time, and its value will decrease

Explanation:

Because the company is using the investor's required rate of return instead of one that takes into account the riskiness of the two division, you find that risk is not being adequately accounted for.

This would lead to a situation where the company becomes riskier because it is not accounting for its risk properly. With higher risk, the company will be unable to seek funding easily which would lead to lower investments being undertaken and an overall decrease in company value.

7 0
3 years ago
Frictional unemployment occurs because in a world of imperfect information, it takes ________ for people to find jobs.
adelina 88 [10]

Frictional unemployment occurs because in a world of imperfect information, it takes time for people to find jobs.

<h3>What is Frictional unemployment?</h3>

Transitions in employment that are voluntary within an economy lead to frictional unemployment. Even in an expanding, stable economy, frictional unemployment is a given. Frictional unemployment refers to workers who decide to leave their current jobs in search of new ones and people who are just starting out in the workforce. It excludes employees who hold onto their existing position until they find a new one because, presumably, they are never unemployed.

In the economy, there is always some frictional unemployment. It is a portion of natural unemployment, which is the lowest unemployment rate in an economy as a result of economic factors and labor movement, and it affects the overall employment picture.

The number of workers who are involuntarily out of work indicates both natural unemployment and the number of people who have been replaced by technology or lack of expertise.

To learn more about the,  Frictional unemployment visit:

brainly.com/question/14210020

#SPJ4

3 0
1 year ago
Other questions:
  • Choose the best closing for a message requesting the receiver's support for a proposed change in a benefits plan.
    13·1 answer
  • You just sold 300 shares of stock at a price of $42.06 a share. You purchased the stock for $39.80 a share and have received tot
    8·1 answer
  • When potential capital investments of different size are​ compared
    7·1 answer
  • Which is true of lodging employers of major hotel chains? They tend to have a low turnover rate. They tend to promote employees
    12·2 answers
  • Rollins Corporation is estimating its WACC. Its target capital structure is 20 percent debt, 20 percent preferred stock, and 60
    7·1 answer
  • Marshall Inc. recently hired your consulting firm to improve the company's performance. It has been highly profitable but has be
    6·1 answer
  • Crawford Fishing had a net income of $35,640 in 2017. They decided to pay $3,000 in dividends and keep the rest to help expand t
    14·1 answer
  • What to do if you have a student whos bad
    8·1 answer
  • This document shows that you are allowed to work in the United States:
    12·2 answers
  • Suppose you deposit $1,633.00 into and account 9.00 years from today into an account that earns 14.00%. How much will the accoun
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!