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Characteristic Descriptions 1. Tax status of income Taxed a second time on owner's personal return 2. Transferability of ownership Easily bought and sold 3. Mutual
Characteristic Descriptions 1. Tax status of income Taxed a second time on owner's personal return 2. Transferability of ownership Easily bought and sold 3. Mutual agency 4. Government regulation 5. Ease of formation Requires government approval 6. Ability to raise large capital amounts High ability 7. Duration of life Unlimited 8. Legal status
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Accounting What the Numbers Mean
Authors: David H. Marshall, Wayne W. McManus, Daniel F. Viele,
9th Edition
978-0-07-76261, 0-07-762611-7, 9780078025297, 978-0073527062
