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catherine turner
on Dec 08, 2024

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Which of the following is a disadvantage of a corporation?

A) Lack of regulatory controls
B) Unlimited liability
C) Absence of perpetual life
D) Employee-owner separation
E) Lack of expansion potential

Double Taxation

A taxation principle referring to income taxes paid twice on the same source of earned income; it can occur when income is taxed at both the corporate level and personal level.

Unlimited Liability

A legal status where the business owner's personal assets can be used to satisfy the debts and liabilities of the business.

  • Learn the advantages and disadvantages associated with corporations in the context of business ownership.
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SM
Shiela MarizDec 15, 2024
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