Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Dec 28, 2023

One of the main reasons business choose to incorporate is: Profit retention Ease of startup and closure Single taxation Limited liability Profit retention

One of the main reasons business choose to incorporate is:

Profit retention

Ease of startup and closure

Single taxation

Limited liability Profit retention

Step by Step Solution

There are 3 Steps involved in it

Step: 1

The detailed answer for the above question is provided below The correct answer is Limited liability ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Federal Income Taxation In Canada

Authors: Robert E. Beam, Stanley N. Laiken, James J. Barnett

33rd Edition

1554965020, 978-1554965021

More Books

Students also viewed these Accounting questions

Question

Googles ease of use and superior search results have propelled the search engine to its num- ber one status, ousting the early dominance of competitors such as WebCrawler and Infos- eek. Even later...

Answered: 1 week ago

Question

★★★★★

Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...

Answered: 1 week ago

Question

★★★★★

Answer the questions below in a 250-word review of the memo and paper below: Does the introduction clearly announce the topic and engage the readers interest? If not, why not? If yes, what is...

Answered: 1 week ago

Question

★★★★★

A billboard at the top of a building is being illuminated by a projection light (L) that is 103 feet from the base of the building as shown in the figure. Determine how tall the billboard if its...

Answered: 1 week ago

Question

★★★★★

What is the purpose of the transaction processing system audit? Who typically performs the audit?

Answered: 1 week ago

Question

★★★★★

How could these actions be known but go uncorrected by management?

Answered: 1 week ago

Question

★★★★★

What factors do you think likely played a role in Boormans becoming so obese?

Answered: 1 week ago

Question

★★★★★

Ashley attended an in-service education program about the outpatient prospective payment system (OPPS) where she learned that certain Medicare Part B services are paid according to ambulatory payment...

Answered: 1 week ago

Question

★★★★★

explanation please for every step and each number comes from where ???? please I really need help Review Question 2Question Bank Reconciliation 1) The Finance Officer of Asten International Company...

Answered: 1 week ago

Question

★★★★★

The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2019. For the purpose of the taxes, assume the second February payroll amounts were duplicated for the...

Answered: 1 week ago

Question

★★★★★

3. Effects of fiscal policy Suppose the government decided to increase taxes to rein in consumer spending, but everything else in the economy remained the same. On the following graph, shift the...

Answered: 1 week ago

Question

★★★★★

(JMI) is a company that builds custom-designed metal-cutting machinery. JMI's minimum sales contract is typically for $1 million and many sales contracts are in excess of $5 million. It generally...

Answered: 1 week ago

Question

★★★★★

Asa provides consulting services to small businesses. He has a dedicated office that is used exclusively and regularly. The house is 3,200 square feet, and the office is 275 square feet. Asa did not...

Answered: 1 week ago

Question

★★★★★

1. A firm has 1,000,000 shares outstanding with a price per share of $25.10 (previous to any dividend payment). It decides to pay out cash dividend of $2,100,000. What will the share price be after...

Answered: 1 week ago

Question

★★★★★

QWE Bank Limited originates a pool of 250 mortgages, each with 30-year maturity and averaging $250,000 with an annual mortgage coupon rate of 6 percent. The mortgage backed security insurance fee is...

Answered: 1 week ago

Question

★★★★★

On 15 November 2019, a wheat farmer became concerned that by the time her 200 metric tonne crop was ready for delivery in April 2020 that the price would fall below $335 per tonne - her break-even...

Answered: 1 week ago

Question

★★★★★

Due to erratic sales of its sole product-a high-capacity battery for laptop computers-PEM, Incorporated, has been experiencing financial difficulty for some time. The company's contribution format...

Answered: 1 week ago

Question

★★★★★

Calculate the change in entropy when 100 kJ of energy is transferred reversibly and isothermally as heat to a large block of copper at (i) 0 C, (ii) 50 C.

Answered: 1 week ago

Question

★★★★★

Anita Lee, Vice-President of Gary Inc., has asked for your assistance concerning the tax implications of certain amounts and benefits she received from her employer during 2012. Salary,...

Answered: 1 week ago

Question

★★★★★

Furniture Focus Limited provides competitive prices to consumers by using a no-frills approach to displaying its product in large stores surrounded by ample parking. Furniture Focus Limited has...

Answered: 1 week ago

Question

★★★★★

Dave Stieb reported the following information for tax purposes: Brackets indicate capital loss. ** Includes a $4,000 business investment loss. REQUIRED Compute the income under Division B for each...

Answered: 1 week ago

Question

★★★★★

The frequencies of traffic fatalities of nonoccupants of vehicles are shown in the following bar chart. Change this to a bar chart of relative frequencies.

Answered: 1 week ago

Question

★★★★★

In a study appearing in the journal Science, a research team reports that plants in southern England are flowering earlier in the spring. Records of the first flowering dates for 385 species over a...

Answered: 1 week ago

Question

★★★★★

Business analysts hoping to provide information helpful to American grape growers compiled these data about vineyards: size (acres), number of years in existence, state, varieties of grapes grown,...

Answered: 1 week ago

Previous Question Next Question