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All of the following are true about sole proprietorships, partnerships, and S corporations except the following: a. They are treated as conduits for federal tax
All of the following are true about sole proprietorships, partnerships, and S corporations except the following:
a. They are treated as conduits for federal tax purposes
b. All income, gains, losses, credits, etc. pass through to their owners
c. The owners can be employees and fully participate in benefit plans
d. Their selection of tax year is restricted. Group of answer choices
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